Perspective/Delinquencies/Rig count & inventories/Transportation costs/PMIs
Some perspective from Michael Burry on X posted last week, that I first saw over the weekend, on the size of the upcoming major IPOs relative to the size and pace we saw in the late 1990’s.
This is an updated chart from the WSJ a few days ago on the % of delinquencies that are 90+ days. What is considered delinquent is a bill that hasn’t been made in 30 days, so, the 13% is not an absolute delinquency figure but of those considered ‘delinquent’, the extent at which it’s 90 days or more. The actual 90 day delinquency rate according to the NY Fed for Q1 was 7.1%, steady over the past 2 years, though around the highest in 15 years. The 90+ day delinquency rate for autos is at 2.97%, just below a 15 yr high.
https://www.wsj.com/personal-finance/credit/us-credit-card-debt-af5c7c77
90 day+ Delinquency Rate for credit cards
90 day+ Delinquency Rate for auto loans
