Default Rates on Household Loans are SKYROCKETING

What this episode covers

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 AnalysisFRBNY Household Debt and Credit Report Q3 2024https://www.newyorkfed.org/microeconomics/hhdc/background.htmlBloomberg Ally Auto Borrowers With 2022 Loans Now Struggling, CFO Sayshttps://www.bloomberg.com/news/articles/2024-11-07/ally-auto-borrowers-with-2022-loans-now-struggling-cfo-saysBloomberg Ally’s Charge-Offs, Bad-Loan Provisions Beat Expectationshttps://www.bloomberg.com/news/articles/2024-07-17/auto-lender-ally-reports-stronger-than-expected-debt-managementFederal Reserve Frequently Asked Questions about Regulation Qhttps://www.federalreserve.gov/supervisionreg/legalinterpretations/reg-q-frequently-asked-questions.htmhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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This episode is 20 minutes long.

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This episode was published on November 19, 2024.

What is this episode about?

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...

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