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8 Aug 2023

In the US, interest rates on household items are skyrocketing

In just 1 year, the average interest rate on credit card debt has gone from 14% to 21%+. New car loan rates went from 4% to 8% while used car loan rates are at 12%+. Mortgage rates are at a fresh high of 7.2%, up from 2.7% in 2021. Will the US consumer be able to absorb all these debt servicing costs? Source: The Kobeissi Letter, Macrobond, IN

7 Aug 2023

The lagging effects of higher interest rates ?

Yellow Corp. filed for bankruptcy and will remain shuttered after the trucking firm’s long-running financial woes (rising bond & loan payments) were compounded by a dispute with its labor force (wage inflation). The firm closes after nearly 100 years and leaves 30k employees jobless (this will likely be reflected in a lower payroll print for August). Source: Bloomberg

7 Aug 2023

Interest payments on US government debt are soaring

source: Markets & Mayhem

3 Aug 2023

Robinhood now makes much more collecting interest on client cash than from its core business.

This is $234 million that RH's customers should be collecting but they are currently handling to the Trading App. Source: www.zerohedge.com, Robinhood

3 Aug 2023

US interest expenses have surged by about 50% in the past year, to nearly $1 trillion on an annualized basis

Source: Lisa Ambramowicz, Bloomberg

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