Levered-Up Consumers With Low Savings And Falling Deposits Set To Cut Back Spending

posted in: Credit, Economy | 0

Low savings rate, falling deposits and levered-up consumers could be a precursor to a pullback in spending. Later this morning, May’s personal income/spending data will be published. This series also contains the PCE (personal consumption expenditures) price index measuring inflation. … Continued

June Revolving Credit Up 11.2% Y/Y; Interest Rates On Credit Cards Up 600bps Last 5 Quarters To North Of 20%

posted in: Credit, Economy | 0

The US is a credit-reliant economy. Many Americans tap credit cards to even cover essential living expenses. In June, revolving credit shot up 11.2 percent year-over-year to $1.26 trillion – barely under May’s record high. Interest rates on credit cards, … Continued

Rising Rates To Reverberate Through Consumer Delinquency Rate At Some Point

posted in: Credit, Economy | 0

Within a year, US interest rates have gone up a lot, with the fed funds rate having risen from zero-bound to north of 4.5 percent currently. In the futures market, traders expect the benchmark rates to peak between 550 basis … Continued