Nonrevolving Consumer Credit Surges In May The Most In History As Wells Fargo Shutters Its Personal Lines Of Credit (Well, THAT Escalated Quickly!)

The Federal Reserve released its monthly consumer credit report for May and its a doozy. Non-revolving credit increased the most in history!

At the same time, Wells Fargo announced it is shutting down all personal lines of credit.

The 10Y/3M and 10Y/2Y Treasury curve continue to tank.

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