Japanese bank ending + money supply - which was the worst reading since August 2005 (it was -1.9% in April and -1.8% in the 1Q average

Japanese bank ending + money supply - The oya change in bank lending for June was unchanged at May's -2.1%, which was the worst reading since August 2005 (it was  -1.9% in April and -1.8% in the 1Q average). The BoJ continued to cite  the soft corporate loan demand, as the major cause of the weakness, and additionally commented that the demand was not boosted even in the month , when a number of firms pay summer bonuses and diviidends.  Separately, in the June money stock report, both M2 (cash, deposit money and time deposits)  and  L (which is the broadest measure of money stock) continued to rise solidly (at  2.9%oya and 1.6%oya, respectively).