Category Archives: Market Structure and Dynamics

A Consumer Financial Protection Bureau (CFPB) report found that buy-now-pay-later (BNPL) borrowers often have lower credit scores and higher balances on other credit lines. This follows the agency’s 2023 report that found that BNPL users were more likely to...

The use of buy-now-pay-later (BNPL) services spiked on Cyber Monday as consumer spending reached a record $991.2 million that day. Consumers spent $75.1 billion using BNPL in 2024 – up 14% from 2022. According to...

Structured finance products are becoming more popular with investors because they typically offer higher yields compared to corporate debt. But the increase in demand has caused spreads to tighten for both senior and subordinate tranches. ...

The New York Federal Reserve’s November Survey of Consumer Expectations found that one, three, and five-year inflation projections each increased by 0.1 percentage points over the past month.  Consumers now expect inflation over the next year to...

The profitability of investing in private funds is attracting the attention of asset managers as they look to increase portfolio diversification and reach a wider range of borrowing firms. However, private credit investment also brings new...

Federal Reserve Governor Christopher Waller warned that progress lowering U.S. inflation may be stalling, particularly in the services sector. However, he still supports a rate cut at the Fed's December meeting, provided economic data doesn't...

Despite rising auto loan delinquencies, ABS backed by these loans have become increasingly popular with investors due to expectations of an improving economy. This is consistent with the broader increase in demand for ABS.   Read...

According to a Federal Reserve Bank of New York report based on consumer surveys, credit rejections rose to 21% this year (from 20.1% in 2023), well above pre-pandemic levels. Rejection rates increased the most for individuals with...

The Wall Street Journal reports that consumer prices in October rose 2.6% year-over-year, a slight increase from September’s 2.4% rate. Core inflation, which excludes food and energy, held steady at 3.3%.  Market reaction was largely positive,...

Reuters writes that a recent survey from the Federal Reserve Bank of New York shows that U.S. consumers have become more optimistic about inflation, the job market, and their ability to manage debt. Household inflation expectations...