Luke Gromen: Delinquency chart returns to mid-2007 levels despite strong U.S. economy narrative - Traders Union
Luke Gromen: Delinquency chart returns to mid-2007 levels despite strong U.S. economy narrative - Traders Union
Source: Traders Union
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DW NOTE
Gromen flags delinquency rates matching mid-2007 — the quarter before CDO indexes cracked and eighteen months before Lehman. The Fed just raised rates into a freight shutdown that has cut Gulf oil exports by 17 million barrels per day. If households are rolling over credit cards at 4.81% two-year Treasury yields while energy costs sit 42% above last year, delinquency isn't a coincidence. It's arithmetic.