07/18/23 07:15 AM EDT

CHART OF THE DAY: Credit Card Balances Keep Climbing

Keith McCullough

Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.

As you can see from this chart in our Q3 Macro Themes deck:

A) The latest US Credit Card data shows balances grew at their FASTEST PACE In 20 YEARS … while
B) The cost of that Revolving Credit continued to notch higher to MULTI-DECADE highs

All good as long as we “rich” people are long AI, eh.

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