Below is a chart and brief excerpt from today's Early Look written by Macro analyst Christian Drake.
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Consumer bankruptcies and foreclosures were up +17.4% Y/Y. That is a deceleration from +20% Y/Y in 1Q, but the Y/Y growth numbers remain distorted from the plunge associated with pandemic support/stimulus. Notably, 2Y average growth (helps normalize for the comp distortion) accelerated to +10.1% … easily the fastest pace of growth/acceleration since the Great Financial Crisis. |
