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Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. ## Straight from the Desk # **Syz** the moment Live feeds, charts, breaking stories, all day long. - [All](https://blog.syzgroup.com/syz-the-moment) - [equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) - [United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) - [Macroeconomics](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) - [Food for Thought](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thought) - [markets](https://blog.syzgroup.com/syz-the-moment/tag/markets) - [Central banks](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) - [bitcoin](https://blog.syzgroup.com/syz-the-moment/tag/bitcoin) - [Fixed Income](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) - [geopolitics](https://blog.syzgroup.com/syz-the-moment/tag/geopolitics) - [AI](https://blog.syzgroup.com/syz-the-moment/tag/ai) - [Asia](https://blog.syzgroup.com/syz-the-moment/tag/asia) - [europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) - [gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) - [Commodities](https://blog.syzgroup.com/syz-the-moment/tag/commodities) - [investing](https://blog.syzgroup.com/syz-the-moment/tag/investing) - [Technology](https://blog.syzgroup.com/syz-the-moment/tag/technology) - [Crypto](https://blog.syzgroup.com/syz-the-moment/tag/crypto) - [technical analysis](https://blog.syzgroup.com/syz-the-moment/tag/technical-analysis) - [nvidia](https://blog.syzgroup.com/syz-the-moment/tag/nvidia) - [oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) - [china](https://blog.syzgroup.com/syz-the-moment/tag/china) - [ETF](https://blog.syzgroup.com/syz-the-moment/tag/etf) - [earnings](https://blog.syzgroup.com/syz-the-moment/tag/earnings) - [Forex](https://blog.syzgroup.com/syz-the-moment/tag/forex) - [energy](https://blog.syzgroup.com/syz-the-moment/tag/energy) - [banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) - [magnificent-7](https://blog.syzgroup.com/syz-the-moment/tag/magnificent-7) - [Alternatives](https://blog.syzgroup.com/syz-the-moment/tag/alternatives) - [Volatility](https://blog.syzgroup.com/syz-the-moment/tag/volatility) - [Real Estate](https://blog.syzgroup.com/syz-the-moment/tag/real-estate) - [apple](https://blog.syzgroup.com/syz-the-moment/tag/apple) - [emerging-markets](https://blog.syzgroup.com/syz-the-moment/tag/emerging-markets) - [google](https://blog.syzgroup.com/syz-the-moment/tag/google) - [Middle East](https://blog.syzgroup.com/syz-the-moment/tag/middle-east) - [switzerland](https://blog.syzgroup.com/syz-the-moment/tag/switzerland) - [tesla](https://blog.syzgroup.com/syz-the-moment/tag/tesla) - [United Kingdom](https://blog.syzgroup.com/syz-the-moment/tag/united-kingdom) - [amazon](https://blog.syzgroup.com/syz-the-moment/tag/amazon) - [microsoft](https://blog.syzgroup.com/syz-the-moment/tag/microsoft) - [assetmanagement](https://blog.syzgroup.com/syz-the-moment/tag/assetmanagement) - [ethereum](https://blog.syzgroup.com/syz-the-moment/tag/ethereum) - [meta](https://blog.syzgroup.com/syz-the-moment/tag/meta) - [russia](https://blog.syzgroup.com/syz-the-moment/tag/russia) - [Industrial-production](https://blog.syzgroup.com/syz-the-moment/tag/industrial-production) - [Healthcare](https://blog.syzgroup.com/syz-the-moment/tag/healthcare) - [ESG](https://blog.syzgroup.com/syz-the-moment/tag/esg) - [Global Markets Outlook](https://blog.syzgroup.com/syz-the-moment/tag/global-markets-outlook) - [Turkey](https://blog.syzgroup.com/syz-the-moment/tag/turkey) - [inflation](https://blog.syzgroup.com/syz-the-moment/tag/inflation) - [bankruptcy](https://blog.syzgroup.com/syz-the-moment/tag/bankruptcy) - [brics](https://blog.syzgroup.com/syz-the-moment/tag/brics) - [Market Outlook](https://blog.syzgroup.com/syz-the-moment/tag/market-outlook) - [performance](https://blog.syzgroup.com/syz-the-moment/tag/performance) - [africa](https://blog.syzgroup.com/syz-the-moment/tag/africa) - [LLM](https://blog.syzgroup.com/syz-the-moment/tag/llm) - [Global](https://blog.syzgroup.com/syz-the-moment/tag/global) - [Market News](https://blog.syzgroup.com/syz-the-moment/tag/market-news) - [Weekly Equities](https://blog.syzgroup.com/syz-the-moment/tag/weekly-equities) Show more 18 Jan 2024 - - - #### 🟥 The delinquency rate for credit card loans in 2023 has risen sharply Which, based on historical patterns, suggests that the economy might be heading towards a recession. [#Macroeconomics|](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) [#banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) ![🟥 The delinquency rate for credit card loans in 2023 has risen sharply](https://blog.syzgroup.com/hubfs/1705530488085.jpg) ![🟥 The delinquency rate for credit card loans in 2023 has risen sharply](https://blog.syzgroup.com/hubfs/1705530488085.jpg) 15 Jan 2024 - - - #### $JPM JP Morgan Chase Q4 FY23. CEO Jamie Dimon: Deficit spending and supply chain adjustments “may lead inflation to be stickier and rates to be higher than markets expect." • Net revenue +12% Y/Y to $38.6B ($1.2B miss). • Net Income $9.3B. • Non-GAAP EPS: $3.97 ($0.37 beat). • CET1 ratio of 15.0%. • Expect FY24 NII of $90B (+1% Y/Y). [#Macroeconomics|](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) [#banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) ![$JPM JP Morgan Chase Q4 FY23.](https://blog.syzgroup.com/hubfs/1705074174621.jpg) ![$JPM JP Morgan Chase Q4 FY23.](https://blog.syzgroup.com/hubfs/1705074174621.jpg) 22 Dec 2023 - - - #### Bank credit is contracting sharply This has only happened ONCE in the last 50 years. Source: Game of Trades [#banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) ![Bank credit is contracting sharply](https://blog.syzgroup.com/hubfs/1703201646095.jpg) ![Bank credit is contracting sharply](https://blog.syzgroup.com/hubfs/1703201646095.jpg) 8 Dec 2023 - - - #### The average credit card interest rate right now has risen to 27.81% And that's with U.S. credit card debt hitting new record highs north of $1,000,000,000,000 Source: Hedgeye [#Macroeconomics|](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) [#banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) ![The average credit card interest rate right now has risen to 27.81%](https://blog.syzgroup.com/hubfs/1701989076432.jpg) ![The average credit card interest rate right now has risen to 27.81%](https://blog.syzgroup.com/hubfs/1701989076432.jpg) 1 Dec 2023 - - - #### Is the US banking crisis really over? Unrealized losses on investment securities held by US banks hit $684 billion in Q3, according to the FDIC. This marks a 22.5% jump compared to unrealized losses seen last year. The jump was primarily driven by rising mortgages rates reducing the value of mortgage-backed securities held by banks. Despite these challenges, the FDIC states that banks remain "well capitalized." This comes as usage of the Fed's emergency funding facility for banks hit another record high of $114 billion. Source: The Kobeissi Letter [#United States|](https://blog.syzgroup.com/syz-the-moment/tag/united-states) [#banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) ![Is the US banking crisis really over?](https://blog.syzgroup.com/hubfs/1701319346718.jpg) ![Is the US banking crisis really over?](https://blog.syzgroup.com/hubfs/1701319346718.jpg) 28 Nov 2023 - - - #### As highlighted by The Kobeissi Letter \>\>\> Buy Now Pay Later spending soars 20% compared to last year on Black Friday It's also expected to jump 19% on Cyber Monday to a record $782 million. As excess savings in the US have gone from $2 trillion to zero, Americans are relying on debt more than ever. In other words, "deals" that are 20% off are being financed with credit card debt that has a 30% interest rate... [#Macroeconomics|](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) [#banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) ![As highlighted by The Kobeissi Letter \>\>\> Buy Now Pay Later spending soars 20% compared to last year on Black Friday](https://blog.syzgroup.com/hubfs/1701107486555.jpg) ![As highlighted by The Kobeissi Letter \>\>\> Buy Now Pay Later spending soars 20% compared to last year on Black Friday](https://blog.syzgroup.com/hubfs/1701107486555.jpg) 27 Nov 2023 - - - #### Hong Kong local bank rate (HIBOR) jumped to its highest level in 16 years Source: Barchart, Bloomberg [#investing|](https://blog.syzgroup.com/syz-the-moment/tag/investing) [#banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) ![Hong Kong local bank rate (HIBOR) jumped to its highest level in 16 years](https://blog.syzgroup.com/hubfs/1701065626056.jpg) ![Hong Kong local bank rate (HIBOR) jumped to its highest level in 16 years](https://blog.syzgroup.com/hubfs/1701065626056.jpg) 23 Nov 2023 - - - #### Interest rate on credit card debt has risen to 21.19% To put this in perspective, this rate was at 14.56% in early 2022. That’s a 6% + jump in less than 2 years. Current levels have NEVER been seen in over 25 years. This is happening at a time when credit card debt has crossed the $1 trillion threshold. To make things worse, personal interest payments have crossed $500 billion. Source: Game of Trades [#Macroeconomics|](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) [#banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) ![Interest rate on credit card debt has risen to 21.19%](https://blog.syzgroup.com/hubfs/1700692408987.jpg) ![Interest rate on credit card debt has risen to 21.19%](https://blog.syzgroup.com/hubfs/1700692408987.jpg) ❮❮ [❮](https://blog.syzgroup.com/syz-the-moment/tag/banking/page/11) [10](https://blog.syzgroup.com/syz-the-moment/tag/banking/page/10) [11](https://blog.syzgroup.com/syz-the-moment/tag/banking/page/11) [12](https://blog.syzgroup.com/syz-the-moment/tag/banking/page/12) [13](https://blog.syzgroup.com/syz-the-moment/tag/banking/page/13) [14](https://blog.syzgroup.com/syz-the-moment/tag/banking/page/14) [❯](https://blog.syzgroup.com/syz-the-moment/tag/banking/page/13) [❯❯](https://blog.syzgroup.com/syz-the-moment/tag/banking/page/15?hsLang=en) ## **Thinking** out loud Sign up for our weekly email highlighting the most popular posts. 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