The Federal Reserve reported a sharp rise in delinquencies, especially credit cards and auto loans. That wasn’t all, as the New York branches also showed record high rejections strongly indicating where things really stand in the credit cycle. As a result, we have to pay some attention to CRTs, otherwise known as SRTs, the latest financial engineering akin to the 2020s version of credit default swaps.
Sources:
fred.stlouisfed.org/series/DRSFRMACBS
fred.stlouisfed.org/categories/32440
www.statista.com/statistics/205959/us-mortage-delinquency-rates-since-1990/
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