Corporate Borrowing Fell in 3rd Quarter

From Mish: Economic Winter Reflected in Shipping, Capex, Jobs, Treasury Yields

Corporate Borrowing Plummets Worldwide
BIS is reporting Corporate, government borrowing plummets in third quarter.

Net issuance of bonds and notes by corporations, financial institutions and governments fell to 247 billion dollars (195 billion euros) from 1.086 trillion dollars in the second quarter, said the world's top central bank body.

Debt issued in euros fell most, plummeting from 466 billion dollars in the second quarter to 28 billion dollars in the third quarter.

Debt issued in dollars also dropped steeply, from 396 billion to 40 billion dollars in the three months ending September.

Base money supply may be soaring but banks are clearly not lending. But why should banks lend when default risk is high and rising? More importantly, why should businesses want to expand?