- Credit card delinquency rates rose among younger Americans but the increase is broad based on income and location
- Total U.S. household debt rose 1.3% to $17.29 trillion in the third quarter
- Student loan balances in the third quarter rose by $30 billion to $1.6 trillion
- Total mortgage balances rose by $126 billion to $12.14 trillion in the third quarter but mortgage lending in the third quarter fell to $386 billion k/w
- Credit card balances rose by $48 billion k/k in the third quarter to $1.08 trillion - the report indicated that the increase in credit card balances is in line with strong consumer spending and GDP
- Total delinquency rates for the third quarter rose 3%
Fed's Waller
- Prices are unlikely to return to pre-pandemic levels.
- Bankers are wondering what exactly caused the rise in long-term yields.
- In central banking terms, the rise in 10-year yields was an earthquake.
- Labor supply also appears to be normalizing to pre-pandemic levels.
- The labor market is cooling down and approaching its pre-pandemic average, clearly calming down
- The economy performed very well in Q3 GDP, the Fed is watching closely.
EURUSD is trading today slightly above the 23.6 Fibonacci retracement of the September upward wave - near 1.0687. The dollar is strengthening today although yields have settled down to 4.58%. Source: xStation5
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