Slowdown! ADP Jobs Added Slows To +89k As Credit Card Delinquencies At Small Banks Hit Highest Level Even Recorded (7.51%)

Economy, Existing Home Sales, Fed, Freddie Mac, Housing, Inflation, Mortgage, New Home Sales, Silver, SPX, Stocks, Uncategorized, Wages, Yellen, Yield Curve 1 Minute

The US is experencing a slow down.

The massive Federal government and Federal Reserve Covid stimulus has worn out and we are left with a sagging jobs report and soaring credit card delinquencies.

After ADP’s reports printed almost perfectly in line with BLS last month (+177k vs +187k), all eyes are on today’s print, which was expected to decline to +150k. Instead it plunged to just +89k – that is the lowest jobs addition since Jan 2021.

Credit Card Delinquency rates at small banks have reached 7.51%, the highest level ever recorded.

Bidenomics is taking the 10Y rate higher.

Boom shaka laka.

Published by confoundedinterest17

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