Good morning. Shares in cannabis companies went, er, higher yesterday when President Donald Trump posted a video advocating the use of medical marijuana in elder care. Is he just blowing smoke? Email us: unhedged@ft.com.
Bank lending to non-bank lenders
A standard plank of arguments for the continued resilience of the US economy — despite weak job growth and various other aches and pains — is the recent expansion in bank lending. Unhedged may even have stood on this plank once or twice. Below is a chart of year-over-year growth in lending. The acceleration this year has been notable:
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