Here and there we’ve gotten a few good credit card delinquency numbers, but there’s still little evidence that this section of the financial system is returning to health.
The latest numbers from Capital One (COF) show a return to weakness in January. Annualized net charge-offs jumped to 10.41% from 10.14% in December, and delinquencies rose to 5.80% from 5.78%.
Globally (incl. Canada and the UK) charge-offs were down, so at least consumers outside the US are doing better.
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See Also:
- Michigan Consumer Sentiment Index Delivers A Surprise Drop
- Doug Kass: The US Consumer Is Sick And You Should Go Short Retail With Impunity
- WHOOSH: Consumer Credit Drops For 11th Straight Month