Independent thinking for complex markets and current events
by Dismal-Jellyfish Source: https://www.dtcc.com/-/media/Files/pdf/2023/7/26/MBS1249-23.pdf https://www.dtcc.com/-/media/Files/pdf/2023/7/26/MBS1250-23.pdf
Coming to the USA? China shames citizens, who are on the blacklist of Social Credit System, by displaying their faces, ID, addresses…on every government-run billboard in the town for all to see. This also alerts who you may want to 'stay away' from, lest your social credit… pic.twitter.com/wOvcTDxLsA — Wall Street Mav (@WallStreetMav) July 26, …
Credit Suisse has been fined a record £87m by the Bank of England for “extremely serious” risk management failures. The bank, which was subject to a forced takeover by Swiss rival UBS earlier this year, fell “well below” regulatory standards in its dealings with private investment firm Archegos Capital Management, officials said. Credit Suisse lost …
by Dismal-Jellyfish https://www.federalreserve.gov/newsevents/pressreleases/files/enf20230724a1.pdf The Federal Reserve Board on Monday announced a consent order and a $268.5 million fine with UBS Group AG, of Zurich, Switzerland, for misconduct by Credit Suisse, which UBS subsequently acquired in June 2023. The misconduct involved Credit Suisse’s unsafe and unsound counterparty credit risk management practices with its former counterparty, Archegos …
via mishtalk: The more you think you really need a loan, the less likely you are to get one, especially auto loans. Data from New York Fed Survey of Consumers, chart by Mish New York Fed Credit Access Survey report comes out every for months. The June report shows significant tightening of credit standards by lenders and …
Long-overdue. Looks like somebody finally completed an analysis. 👀 pic.twitter.com/d5tHyjl0Qx — IZ (@siddiqui71) July 24, 2023 'America's $1.4tn risky corporate loan market has been hit by the biggest slew of downgrades since the depths of the Covid crisis in 2020, as rising borrowing costs strain businesses piled high with floating-rate debt.' https://t.co/zXj8Xzypwc pic.twitter.com/dUoFLa8INa — Jesse …
Consumer #Credit slowed even more in May, and we saw revisions for March and April that were lower than last month. So, people are taking out less debt in the following forms, which shows a sign of credit contraction. -Auto loans-Home improvement loans-Appliance and… https://t.co/txsBRdV4VR — Micro2Macr0 (@Micro2Macr0) July 15, 2023
Credit Scores Abruptly Plunge As Americans Stop Paying Down Debt; Synchrony Financial Warns Over the past few years, tens of millions of consumers witnessed a remarkable increase in their credit scores, primarily due to helicopter money dished out by the federal government, rock-bottom interest rates, and a pause on student-loan payments. However, the party has …
MORE – Nigel Farage: "What has happened to me could very soon happen to you. And if it does, we start to move towards a Chinese-style social credit system. Where our freedoms are gone."pic.twitter.com/Gje6NWzUGL — Disclose.tv (@disclosetv) July 18, 2023
Americans are having a much harder time accessing credit. The rejection rate for loan applicants jumped to 21.8% in the 12 months through June, the highest level in 5 years: Fed data. The rejection rate for auto loans exceeded the application rate. https://t.co/Ag5BnmDKlP pic.twitter.com/w6iSrPAqoj — Lisa Abramowicz (@lisaabramowicz1) July 17, 2023 https://www.newyorkfed.org/microeconomics/sce/credit-access#/ Wut mean? …
by confoundedinterest17 Alarm! The global credit correction has arrived. Or as Bill Paxton said in Twister, “It’s already here!” The question is, how far into the economy will it extend? US Gross Domestic Income YoY is still growing strong at 4.5%, but shrinking really fast as Fed monetary stimulypto wears off. S&P Global Ratings’ Credit Cycle …
“The investigation will focus on the activities of the Swiss government, financial regulator and central bank in the run up to the emergency takeover of Credit Suisse by UBS in March…” Source: https://t.co/odNH0FBcCI — Gold Telegraph ⚡ (@GoldTelegraph_) July 15, 2023 An investigation by a parliamentary committee into the collapse of Credit Suisse will maintain …
Consumers face challenges. If banks borrow short and lend long, then a large % of their payments dries up, how do they pay back their lenders in full? (they don't) That eventuality is only growing larger: pic.twitter.com/N96oHRwUBG — Joe Consorti (@JoeConsorti) July 13, 2023 University of Michigan consumer sentiment is levels last seen during: – …
Maxine Waters Claims ‘Everyone’ Has To Get On Board With Woke Investing To ‘Save This Planet’ https://dailycaller.com/2023/07/12/maxine-waters-claims-everyone-get-board-woke-investing-save-planet/ It’s telling that Janet Yellen is pushing for the US to adopt CBDCs, begging Americans to keep up with the Jinpings. No. CBDCs are just the latest trojan horse of the Great Reset and are a clear path …
by Dismal-Jellyfish Bank of America (PDF) Bank of New York Mellon Corp (PDF) Citigroup (PDF) Credit Suisse (PDF)***** Goldman Sachs (PDF) JPMorgan Chase (PDF) Morgan Stanley (PDF) State Street Corp (PDF) Wells Fargo & Co (PDF) ***** Credit Suisse submitted this plan pursuant to a deficiency identified in the firm’s December 17, 2021, resolution plan …
via mishtalk: Nonrevolving credit posted its first negative reading since April of 2020. The net change is the lowest since November 2020. The Fed will be pleased with this report. Consumer credit data from the Fed, chart by Mish The Bloomberg Econoday consensus was for credit to rise by $20.0 billion. Instead, the rise was …
Something very strange is happening. Used car supply is at historic lows, yet we *just* experienced the largest monthly decline in used car prices on record. But that doesn’t make sense — If supply is so low, prices should stay high… right? Wrong. It seems like between the… — Car Dealership Guy (@GuyDealership) July 10, …
Average credit card interest rate hits new record high 22.2% pic.twitter.com/1RcUKBNGP3 — zerohedge (@zerohedge) July 10, 2023 The US 30-year #mortgagerate has spiked to a new high of 7.38%. This is the highest level in more than 22 years. It does not require rocket science to figure out that the spike will have a massive …
Despite the markets moving higher, leading economic indicators point to a worsening economy Current levels are comparable to those seen during: – Dot Com bubble– Financial Crisis– C-19 pic.twitter.com/puopTVKU12 — Bravos Research (@bravosresearch) July 10, 2023 An economy that runs on credit is about to find out what happens when credit is expensive https://t.co/Y9H8W1Nqxk — …
by confoundedinterest17 Bidenomics relied of massive Federal spending thanks to Covid and massive monetary expansion. This led to the highest inflation in 40 years (Bidenflation). But now The Fed is slowing M2 Money growth into negative territory and hiking their target rate. The result? Bank credit growth has crashed to 0.5% YoY. In other words, …
Young people don’t even understand and will vote Biden again. I feel bad for them. h/t KlutzyArmy2
by confoundedinterest17 Bidenomics is based on massive Federal spending and massive Fed monetary stimulus. But like all stimulus, it wears off. Such is the case with bank lending as The Fed raises interest rates. US bank credit year-over-year (YoY) has stalled to a lowly 0.7% rate as M2 Money growth YoY increases slightly to -4%. …
“Personal savings have plummeted following C19 It’s now at the lowest levels since 2013 WIth credit card debt and interest rates at their highest levels, consumers now face major headwinds” Personal savings have plummeted following C19 It’s now at the lowest levels since 2013 WIth credit card debt and interest rates at their highest levels, …
by Dismal-Jellyfish From Nov 2015 through at least Mar 2023, Credit Suisse reported to the Trade Reporting & Compliance Engine (TRACE) approximately 9,000 late trades, and OVER 500,000! inaccurate TRACE reports. Punishment? Censure & $900,000 fine. Inside, I attempt to show these actions can facilitate naked shorts… Source: https://www.finra.org/sites/default/files/fda_documents/2018060924101%20Credit%20Suisse%20Securities%20%28USA%29%20LLC%20CRD%20No.%20816%20AWC%20gg.pdf OVERVIEW From November 2015 through at …
My banker just said they are doing tons of home equity loans. It's mostly to pay off the 20% credit cards with 8 to 10% home equity loans. Ask yourself if it's going to actually change the spending habits of people? Getting scary out here….. — ChatSOB (@TheSOBofAIChat) June 30, 2023
Loan-to-deposit ratio has seen the sharpest rise since the 1990s This is the result of consumer borrowing increasing at an unprecedented pace pic.twitter.com/gKl61K9iQN — Bravos Research (@bravosresearch) June 29, 2023 “We’re in an inflationary debt bubble, meaning that consumers are using credit to chase inflation. Based on the assumption that interest rates are coming down …
*UBS PREPARING TO CUT MORE THAN HALF OF CREDIT SUISSE WORKFORCE — zerohedge (@zerohedge) June 27, 2023 JUST IN: UBS, $UBS, is cutting over half of Credit Suisse's workforce starting next month — unusual_whales (@unusual_whales) June 27, 2023 BREAKING: UBS is planning to cut more than half of Credit Suisse’s workforce starting next month as …
