Consumer Credit Card Delinquencies Rise Ahead of the Unemployment Rate
Consumer Credit Card Delinquencies Rise Ahead of the Unemployment Rate
Credit card nonpayment rate is at its highest level since Q3 of 2012
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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