Read the latest articles and press releases about securitization and structured finance.

Industry News

Davos World Economic Forum Spurs Talks of Global Recession

On January 16, the World Economic Forum hosted its annual meeting in Davos, Switzerland where economists warned of the likelihood of a global recession this year. In a survey of over 4,000 business leaders, 73% believe there will be a decline in global growth. The major risks cited by experts at this talk were of inflation, macroeconomic volatility, and geopolitical conflict, with long-term concerns over climate, supply chain pressures and technological disruption.

Industry News

Consumers Increasingly Using Credit Cards to Cover Household Expenses

As reported by Bloomberg News, the U.S. Census Bureau’s Household Pulse Survey found that more than 35% of respondents are using credit cards or loans to meet their spending needs.

Industry News

Job Openings Report Higher Than Expected as Fed Watches for Change

Economists had expected the Bureau of Labor Statistics’ November report, the Job Openings and Labor Turnover Survey (JOLTS), to fall to 10 million job openings, but instead closed the month at 10.45 million, reflecting 1.7 jobs for every unemployed person, in a still hot labor market.

Industry News

Economists at Largest Banks Predict Recession in 2023

The Wall Street Journal reports that more than two-thirds of economists at 23 of the largest primary dealers forecast a recession this year.

Industry News

ADP Reports New Hires for November 33% Lower than Anticipated: FED Policy May Be Showing Impact

ADP’s monthly payroll report, released November 30, tallied a 127,000 net increase in new positions in private payrolls, far less than economists had projected (190,000), although the Leisure and Hospitality sector still saw a strong increase of 224,000 jobs.

Industry News

FRBNY: Consumer Debt Increases in Q3 Led by Largest Year-Over-Year Credit Card Balance Jump in 20 Years

The Federal Reserve Bank of New York (FRBNY) released its Q3 report on household debt, revealing an increase in credit card balances by 15% year-over-year, the largest increase in more than 20 years.

Industry News

Better Than Anticipated CPI Report Brings “Welcome Relief” to Markets

The Consumer Price Index (CPI), released November 10, surprised analysts who had expected the annualized inflation rate to go to 7.9%, down from 8.2% in September. Instead, October’s CPI reported a 7.7% rate. The core index, minus the volatile fuel and food prices, decelerated to 6.3%, down from 6.6% last month with both rent and used car prices beginning to moderate.

Industry News

Prominent CLO Buyer Pauses Purchases Amid Volatile Market

Norinchukin Bank, a Japanese bank and an “anchor investor" in AAA-rated CLO bonds, has paused purchasing new CLOs in U.S. and Europe. The move was likely the result of “profound” volatility in the global markets.

Industry News

Economists Offer Differing Predictions for Quantitative Tightening

The Federal Reserve’s (Fed) schedule to reduce its balance-sheet, known as quantitative tightening (QT), is ramping up through September and possibly ending in early 2025.

Industry News

Non-Prime Lenders Report Delinquency Upticks Across Consumer Credit Products

According to American Banker, banking executives were “largely positive” about the credit health of their mostly prime borrowers, while nonbank lenders with nonprime portfolios were less enthusiastic.

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