Younger Americans are falling behind on credit card and car payments, New York Fed says

Tech Insider : Economy, Economy
  • Total consumer debt swelled to $17.5 trillion in Q4, a $212 billion jump from the previous quarter.
  • Delinquencies are rising among younger borrowers in particular, the New York Fed said. 
  • Younger borrowers have surpassed pre-pandemic levels of credit card delinquencies. 

Younger Americans are falling behind on paying credit card and auto loans, with the rate of late payments rising above pre-pandemic levels in the last quarter, the New York Federal Reserve said in a report. 

$7.6 trillion of US government debt will mature in the next year, adding pressure on rates

Tech Insider : Economy
A US Treasury payment check.
A US Treasury payment check.

Douglas Sacha/Getty Images

Bond vigilantes will punish free-spending world politicians in 'epic clash' next year after notching key victories, market expert says

Tech Insider : Economy
Arm wrestle
After a year of power grabs by junior bankers on Wall Street, control is tilting back toward their bosses amid a tightening labor market.

iStock/Getty Images Plus

Bond yields are hitting multiyear highs. Don't expect them to fall soon.

Tech Insider
New York Stock Exchange traders in October 2023, watching indexes on monitors.
The bond market sell-off may not end anytime soon, Barclays said.

ANGELA WEISS / Getty Contributor

Default risks loom for nearly $2 trillion of junk-rated debt as US companies hit with higher interest rates

Tech Insider
Moody's logo on the side of a building
Moody's logo

EMMANUEL DUNAND / Staff / Getty Images

US homeowners are sitting on $28.7 trillion of equity

Tech Insider
A row of homes in a residential neighborhood.
A row of homes in a residential neighborhood.

Peter Spiro/Getting Images

WeWork warns it has 'substantial doubt' about whether it can keep going as a business

Tech Insider
WeWork
WeWork said Tuesday that is has "substantial doubt" about its ability to continue as a going concern. Its stock fell nearly 25% in after-hours trade.

Photo by Patrick T. Fallon / AFP) (Photo by PATRICK T. FALLON/AFP via Getty Images

BlackRock has more than $100 million exposure to Adani's dollar debt, report says

Tech Insider
blackrock
BlackRock has one of the biggest known exposures to Adani's dollar debt, per Bloomberg.

REUTERS/Eric Thayer

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