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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
- Yesterday’s consumer credit data showed another strong rise in April, up $38.1B after the downward revised but still particularly large $47.3B increase in March.
- That amounted to a 10% annualized gain, within which revolving credit (including credit cards) jumped 20% [first chart].
- The faster pivot towards credit card borrowing over the latest two months will be of concern and ties in with the household saving rate of 4.4% in April being the lowest since Sep’08.
- However, it’s also worth pointing out that the (nominal) stock of revolving credit is only just back above pre-pandemic highs whilst its share of total consumer credit remains low historically at 24% [second chart].
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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