Unexpected Jump in Consumer Credit

An unexpected surge in Americans’ revolving debt has helped boost December’s Consumer Credit growth by more than $22B. Pre-release estimates only foresaw a $15B increase. On a normal day, this might lend credence to the notion that consumers have fueled up for more consumption, but today’s markets are trading more on fears of the coronavirus than anything else. The Ten-Year appears to be resting comfortably at 1.58%.