Today's Consumer Credit was driven mostly through auto sales. The street expected a contraction of $2bn, actual was an expansion of $3bn. Total COC increased $3.3bn during the October time period and non-revolving credit grew $9.0bn. What's more, since August consumer's have accrued more credit at increasing interest rates while decreasing the loan maturity period and the Loan-To-Value Ratio. Increasing consumer confidence is helping move this indicator as well as the overall better mood being broadcast on TV news.
Tuesday, December 7, 2010
Monday, December 6, 2010
ECB, EU Bailouts, and EUR-USD Spread
European Central Bank
Today Reuter's reported "The European Central Bank will offer one-month and one-week funding on Tuesday in the first refinancing opportunity since elevated tension in sovereign debt markets pushed it to say it would keep unlimited funding available until next April." The ECB has stated it will continue to monitor markets and calculate the best time to exit from the liquidity injections and efforts to maintain below average Eonia rates.
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