Nice post. NZ credit card payment defaults were up 14% in June...

Nice post. NZ credit card payment defaults were up 14% in June so what does that mean for BNPL players? Defaults on car payments also saw a hike. They are ahead of OZ on the interest curve. US auto repossessions are up very sharply too. So much so that the repo companies are leasing lots nationwide to park the cars in.

Retail sales in OZ are flying especially big-ticket items. If the RBA feel that homeowners have a huge buffer, then they have two options. Let inflation continue as it will be too hard to control or increase rates much higher to cause spenders some pain in the pocket.

All this indicates that automotive is in for a challenging time so will that benefit or hurt OPY which has 60-70% of its eggs in the automotive basket?