Today's topics include contrarian scenarios for 2021, measuring inflation during a pandemic, detailing the pandemic's effect on the oil industry, the global debt explosion, profiting from the reflation trade, betting on copper, stock market breadth, and the Fed's main street lending program was doomed from the start
Household debt in the U.S. rose slightly to $14.35 trillion in the third quarter.
Consumers are being cautious with their lines of credit, using just 21% of their credit limit. This marks the lowest utilization rate since at least 1998.
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 declined for the third straight quarter as the pandemic took hold.
The third quarter saw $1.05 trillion in mortgage origination, the highest level since 2003.
Some charts from our recent posts
Today's topics include a new addition to the negative rates club, FOMC guidance, the distinction between financing and savings flows, scrutinizing stock indices, stocks vs. VIX, rare earths, the effect of a housing boom on the economy, and money market trends in 2021