U.S. job growth was weaker than expected in April, complicating the outlook for the overall economy and, by extension, the commercial loan market. For its part, total commercial loan growth was strong in April, with C&I bilateral loans increasing at the highest monthly growth rate seen so far this year. On a year-over-year basis, pricing for new C&I bilateral loans was up slightly in April, driven by increased usage of Prime- and fixed-rate pricing. Problem loan levels, while still elevated compared to pre-pandemic averages, were stable month over month in April.
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