US credit card delinquency rates are now at their highest on record, according to the Philadelphia Fed.
In Q4 2023, more credit card balances were 30+ and 60+ days past due compared to any other period in history. The percentage of credit card balances at least 30 days past due is now ~3.5%. Meanwhile, total credit card debt has skyrocketed in recent months and is now at a record $1.3 trillion. The average credit card interest rate is also at record 28%, according to Forbes. Source: The Kobeissi Letter
The sp500 closed below its 50-day moving average today for the first time since last November, ending the 10th longest streak since 1950.
Source: Charlie Bilello
Scarcity matters by Quartr.
Enzo Ferrari's iconic quote "Ferrari will always deliver one car less than the market demands" remains deeply ingrained in $RACE's DNA until this day. While companies in this chart are leveraging different strategies, they are all automakers. Comparing the EBIT margins (FY 2023) of a select group of automakers:
Tesla entering major support zone
Tesla (TSLA US) is entering major support zone 152-160. Keep an eye at this very important level. Source : Bloomberg
US Treasury Real Yield Curve Returns to Positive Territory!
The US Treasury real yield curve (2s10s) has shifted back into positive territory for the first time since 2022. This comes on the heels of a pronounced steepening trend that has unfolded since the beginning of the year. While this development is certainly noteworthy, it's essential to note that the current real yield curve level still trails its historical average, hovering around 0.6%. The recent uptick in interest rates, combined with the steepening of the real yield curve, raises questions about the potential implications for risky assets. Indeed, we're already witnessing some early signals in the High Yield market. The CDX HY index, which monitors single CDS of US HY companies, has shown notable widening from 310bps to 370bps over the past few weeks, indicating heightened risk perceptions among investors. With this in mind, how might further increases in interest rates, combined with a steeper real yield curve, impact risky assets moving forward? Source: Bloomberg
Don’t time the market
Thru Compounding Quality
Eisenhower Matrix : Busy-ness doesn't equal productivity.
Credits : Ben Meer, Alvin Foo
Bitcoin $BTC priced in grams of gold... (log chart)
Note that 1) $1,000 seems to be a key resistance; 2) Bitcoin hasn't made a new all-time high yet... Source: www.priceingold.com
