Early Morning with Dave

Early Morning with Dave

Cracks Finally Emerge in the Credit Markets

Credit card delinquencies are on the rise

David Rosenberg's avatar
David Rosenberg
Oct 10, 2023
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Highlights

  • The Fed does not fully appreciate the wreckage it has created… 

  • … auto and credit card delinquencies are on the rise, bankruptcies are ticking up, and the housing market is in disarray 

  • The devil is in the details of Friday’s NFP report — the labor market is weaker than the headline suggests 

  • The U.S. dollar is to get even stronger… a problem for everybody 

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