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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 yesterday, consumer credit increased by less than expected in March, rising $6.3bn (cons $15bn) albeit after two months of upward revisions with $15.0bn in Feb (initially $14.1bn) and $18.3bn in Jan (initially $17.7bn).
- Monthly growth came entirely from nonrevolving credit (+$6.1bn) whilst revolving credit essentially flatlined (+$0.15bn).
- Equivalent to just +0.1% annualized, revolving credit saw its smallest increase since Apr’21.
- Month-to-month changes can be volatile but the findings for March lend some support to Monday’s SLOOS release, where consumer loan categories saw a bucking of broader trends from both a lending standards and demand angle.
- Specifically, auto loans saw a broader tightening in Q1 than in Q4, whilst demand for all main categories of consumer loans declined across a greater share of respondents (with credit card demand seeing its largest share of a decline since 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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