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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- Released in its usual late-in-the-session slot yesterday, consumer credit increased by far more than expected in Nov, rising a seasonally adjusted $23.75B (cons $8.55B) after $5.8B.
- It marked the largest monthly increase since Nov’22, with some attributing it to the start of the holiday shopping season.
- Revolving credit drove the increase with its third largest monthly increase on record (+$19.1B).
- The rapid pace of revolving credit growth sees its share of overall credit outstanding return more firmly to pre-pandemic levels at 26.2% having dropped sharply early in the pandemic, with strong credit card growth helping fuel consumption over the past year.
- Separately, credit card 30+ day delinquencies have been showing a broadly similar trend, rising to 1.35% in November having averaged 0.8% in 2H21-2022, but still historically low and not yet challenging the ~1.5% averaged years shortly ahead of the pandemic.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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