Good call by you a few months ago as oil came up through the $80 level , ie "oil not likely to see sub 80 again".... ~86 today....
And whilst US retail sales is strong, I wonder if its all going on credit? Seems Aussie purchasers are using credit for their cars, and they are having trouble paying.... strange, snce apprently we too have a "resilient" economy.. Arrears in Australian car loans jump
Car loan delinquencies in Australia climbed in the December 2023 quarter due to elevated costs of living and limited real wage growth, global ratings agency Fitch Ratings says.
Arrears of more than 30 days rose to 1.4 per cent, from 1.2 per cent in the September quarter, and arrears exceeding 60 days lifted to 0.7 per cent, from 0.5 per cent.
“It was the second-largest fourth-quarter increase since 2018,” said Hai Duong Le, an associate director at Fitch. He predicted that arrears would climb further as borrowers continued to feel the pressure from inflation and limited real pay increases
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