Newsclips
Earnings Season Wrap-Up: Record Beat Rate
August 24, 2020
The Q2 2020 earnings season is essentially complete with 95% of the S&P 500 now reported. The earnings beat rate is a new record.
The Q2 2020 earnings season is essentially complete with 95% of the S&P 500 now reported. The earnings beat rate is a new record.
Today's topics include the Fed's unused facilities, different ways of handling unemployment, polar opinions on Inflation, money market funds feeling the squeeze, stock valuations, on the hunt for cheap assets, your daily note on FAAMGs, stock market shorts hit 15-year low, managing government debt, and some humor.
Household debt in the U.S. fell slightly to $14.27 trillion in the second quarter.
Consumers are being cautious with their lines of credit, using just 21.1% 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 second straight quarter as the pandemic took hold.
The second quarter saw $846 billion in mortgage origination, the highest level since 2003.
Select charts from our recent posts
Today's topics include taking the global economy' temperature, betting on the election, consumers' savings accounts, stock market ownership, drowning in corporate debt, an open letter against Judy Shelton, speculators keen on natural gas, tweaking the 60/40 portfolio, and quirks in the jumbo mortgage market.