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| Delinquency on all debt types, except student loans of course, are increasing. Narrative shifting away from rate cuts this year due to current cuts ineffectiveness to curb inflation, which will keep rates higher for longer, expediting additional delinquency increases as borrowers continue to take the double whammy of higher rates & inflation.
Lock everyone inside for a year, hand them free money while unintentionally curbing their spending, creating artificial and unsustainable liquidity, release them back into the wild with a "treat it like the flu" doctors note, runaway inflation, subsequently increase the Fed funds rate at the most aggressive pace since the 80's. Watch the yield curve invert for a record ~650 days... 6 dollar 6" subway sandwiches... I could go on...
Seems like a lot of people standing on the top of the market with their protective paper glasses on staring into the sun while the foundation cracks get larger.
https://www.newyorkfed.org/microeconomics/hhdc.html
https://fred.stlouisfed.org/series/PSAVERT
https://fred.stlouisfed.org/series/DRCLACBS
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S&P 500 Broke below 50 Day MA
