Consumer Credit Card Delinquencies Rise Ahead of the Unemployment Rate

Credit card nonpayment rate is at its highest level since Q3 of 2012

Aug 29, 2023

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Highlights

• Stock market leadership has narrowed and volume fell on the NYSE and Nasdaq from Friday's levels — this rebound is being treated skeptically by institutional investors

• Beijing’s attempts to lower transaction costs doesn’t address China’s structural economic problems

• Powell’s favorite yield curve has been consistently inverted since last November — he told us a year and a half ago that when this curve inverts, it signals a weak economy that justifies rate cuts

• Is it just me or does nobody really care that the credit card nonpayment rate has taken out the COVID-19 recession high, and is at its highest level since Q3 of 2012?

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