Today's topics include BoE in line with Fed, Australian borrowing, haywire bonds, where does the money go after COVID?, will offices go the way of the mall?, the looming rent crisis, new rules in tech competition, more on bitcoin, U.S. strategy on China, and thinking about working from home
Sovereign bond yields are soaring in developed countries and reflation (real growth) hopes are giving way to inflation fears. Central banks' yield curve control policies are being rejected, for now.
Today's topics include how/when will central banks respond?, a terrible 7-year auction, regulating reflation, consumer spending & saving, institutional traders' rise in China, Gamestop's effect on short selling, ultra-long debt duration, and updating Ark's outflows
Household debt in the U.S. rose slightly to $14.56 trillion in the fourth quarter.
Consumers are being cautious with their lines of credit, using just 21% of their credit limit.
People under 30 hold a relatively small amount of debt compared to other age groups. Student loans make up the largest portion of their debt.
The percentage of consumers with debt at a collection agency has fallen over the past couple years, although the average collection amount has risen over the same period.
Household debt broken down by delinquency status
Credit card debt finally bounced back a bit after declining for the first three quarters of 2020.
The fourth quarter saw $1.17 trillion in mortgage origination, the highest level since 2003.