In the US, 42 million credit cards and 3.3 million auto loan accounts are nearing default.

August 11, 2024

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Credit card serious delinquency rates in the US rose to 7% in Q2 2024, the highest since 2011.

Delinquencies of 90+ days have more than doubled since 2022.

Meanwhile, serious delinquencies on auto loans have spiked to 3%, the highest level in 14 years.

According to data from the NY Fed, there are currently around 600 million credit card accounts and approximately 110 million auto loan accounts in the US.

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In the US, 42 million credit cards and 3.3 million auto loan accounts are nearing default.

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Donald Trump stated that he will not debate Kamala Harris again, saying, “There will be no third debate.” No debate, no trades/positions for the traders. What a shame.

Donald Trump says, “We’re embracing the future with crypto and leaving the slow, outdated big banks behind.” Yes, Mr. President, we heard you. You also want to pay off the national debt with Bitcoin. Brilliant plan.