MARKET DAILY

Market 01/09: Consumer debt surges in November 2023

Fed officials strive to curb market expectations of interest rate cuts. - Trade deficit decreases. - Household survey employment data continues to be revised downward significantly.

Dan Khuong Linh
Dan Khuong Linh

Total credit balances increase further +23.8 billion USD after an upward revision of +5.8 billion USD in October.

Revolving credit balances surge 19.1 billion USD in November, the highest since March 2022…

… even though the average interest rate on credit card accounts in Q4 remained unchanged and stayed at a high 22.75% for two consecutive quarters.

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