Careening Cars

In 18Q1, household debt grew 3.8% Y-o-Y, down from the average growth rate of 4.5% over the previous four quarters. Overall delinquency rates fell because of better performing mortgages and student loans. However, credit-card loans 90 days late reached 8% in 18Q1, up from 7.5% in 17Q1. Worryingly, auto loan delinquencies/100,000 Initial Jobless Claims are 3.25, highest since at least 2003. Auto defaults aren’t worse because IJCs are ridiculously low.

Share This Post
Facebook Twitter Email

Speak Your Mind


This site uses Akismet to reduce spam. Learn how your comment data is processed.