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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
- “Aggregate delinquency rates were roughly flat in Q2 and remained low, after declining sharply through the beginning of the pandemic. As of June, 2.7% of outstanding debt was in some stage of delinquency, 2pps lower than 4Q19 just before pandemic.”
- “The share of debt newly transitioning into delinquency increased for credit cards and auto loans, with increases in transition rates of 0.7 and 0.4pps respectively for now slightly above 4Q19 levels." The worsening was “most pronounced” in credit card balances “after a period of extraordinarily low delinquency rates during the pandemic” - see chart below.
- The chart below shows this clearly, and see the following link for more information including the continued sizeable increase for those transitioning into serious delinquency (90+ days) for credit cards: https://www.newyorkfed.org/medialibrary/interactives/householdcredit/data/pdf/HHDC_2023Q2
- Noted earlier: “Federal student loan payments remain suspended until October 2023 and missed payments on federal student loans will not be reported to credit bureaus until 2024Q4. Because of these policies, less than 1% of aggregate student debt was reported 90+ days delinquent or in default in 2023Q2 and will remain low until at least 2024Q4.”
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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