This article first appeared on Floating Path.
Total consumer credit outstanding increased at a seasonally adjusted annual rate of 5.4%, or $13.8 billion, in September, the U.S. Federal Reserve reports. Consumer credit totaled $3,051.7 billion during the month.
Revolving credit, which is generally credit cards, decreased at an annual rate of 2.9%, or $2.0 billion, in September. This is the fourth consecutive monthly decrease. Total revolving credit outstanding was $846.9 billion.
Brook Asset Management was up 7.27% for the first quarter, compared to the MSCI GBT TR Net World Index, which returned 3.96%. For March, the fund was up 1.1%. Q1 2021 hedge fund letters, conferences and more In his March letter to investors, which was reviewed by ValueWalk, James Hanbury of Brook said returns during Read More
Nonrevolving credit, or installment credit, which is primarily student and auto loans, increased at an annual rate of 8.7%, or $15.8 billion, in September. Total nonrevolving credit outstanding was $2,204.8 billion.
This month is just one more in what has a been a string of many where revolving credit has changed little or decreased and nonrevolving credit has charged upwards.