“Subprime Auto Boom Besieged by Late-Payment Jump”

                                                                            – Bloomberg, March 5

The article included that the lending boom was essentially to car buyers with “spotty” credit history. This has been running for three years and helped push overall car sales to a six-year high. Repeat six years.

Does this remind of creating bajillions of subprime mortgages for house buyers who could not afford the burden.

The rapidly developing problem is that “late-payment” numbers on car loans have accelerated to the highest levels in three years.

“As credit tightens at home, Chinese sell Hong Kong luxury real estate at discounts of up to 20 pct.”

                                                                            – Reuters, March 19

This shows that suddenly offside players need cash – now!

A couple of weeks ago the Chartworks highlighted the blow-off action in the biotechs (IBB), and the other day this gem was noticed:

“Anyone with a protein under a microscope and a clean suit can go public right now.”

                                                                           – Business Insider, March 24

“There’s a huge amount of business, both industrial and financial, in both directions between the West and Russia. The further the sanctions go, the greater the pain.”

                                                                          – Bloomberg, March 18

Quite likely credit deterioration that started in Asia would have visited Russia and the Western Europe without the artifice of sanctions.

……continue reading Bob’s take on the Stock Markets, Currencies, Commodities & Bonds in this 5 page report HERE

……continue reading Bob’s take on the Stock Markets, Currencies, Commodities & Bonds in this 5 page report HERE