The Federal Reserve reported a sharp rise in delinquencies, especially credit cards and auto loans. That wasn't all, as the New York branches also showed record high rejections strongly indicating where things really stand in the credit cycle. As a result, we have to pay some attention to CRTs, otherwise known as SRTs, the latest financial engineering akin to the 2020s version of credit default swaps.
Eurodollar University's Money & Macro Analysis
FRBNY Household Debt and Credit Report Q3 2024
https://www.newyorkfed.org/microeconomics/hhdc/background.html
Bloomberg Ally Auto Borrowers With 2022 Loans Now Struggling, CFO Says
https://www.bloomberg.com/news/articles/2024-11-07/ally-auto-borrowers-with-2022-loans-now-struggling-cfo-says
Bloomberg Ally’s Charge-Offs, Bad-Loan Provisions Beat Expectations
https://www.bloomberg.com/news/articles/2024-07-17/auto-lender-ally-reports-stronger-than-expected-debt-management
Federal Reserve Frequently Asked Questions about Regulation Q
https://www.federalreserve.gov/supervisionreg/legalinterpretations/reg-q-frequently-asked-questions.htm
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
What is Eurodollar University?
Jeff Snider will guide you through the realm of monetary science. Multiple episodes uploaded each week, discussing big news and key current events, the state of markets and what they are telling you, as well as historical summaries and deep background material so that you can understand what’s really going on in this eurodollar’s world.