The Philadelphia Fed said almost 3.5% of card balances were at least 30 days past due at December's end.
The economist said there could be a growing gap between the pace of Fed and ECB easing.
The $3.6 trillion asset manager thinks the Fed will front-run monetary easing ahead of the presidential election.
The Treasury market has struggled to find a bottom this year as the economy has defied gloomy forecasts.
“There's no urgency right now,” Dallas Fed President Lorie Logan said.
The Fed is likely to look past signs of economic resilience and start easing its monetary policy, the economist said.
The bank's flagship product now offers a 4.4% annual percentage yield, down from 4.5% in March.
There is a yawning disconnect between inflation volatility and bond volatility.
Higher-for-longer interest rate expectations make it a good time to be a credit investor, the firm says.
Investors feel less secure about their finances, yet also feel better about the economy.
Both candidates appear unlikely to address the federal debt time bomb.
Leveraged loans have gained 2.52% this year, outpacing junk bonds and investment-grade corporate debt.
A Bloomberg analysis indicates the debt-to-GDP ratio is on an unsustainable path.
Investors are now forecasting about 65 basis points of rate reductions in 2024.
Guaranteed income products hold a rightful place in many clients' retirement plans.
The rally in spreads is likely to continue in 2024, according to Goldman Sachs strategists.
Inflation-adjusted consumer spending exceeded all estimates.
The average for a 30-year, fixed loan was 6.79%, down from 6.87% last week.
Altruist Cash allows advisors to offer clients an annual percentage yield of 5.10%, the custodian said.
Low-duration preferred and hybrid securities offer the potential for multiple benefits within a diversified portfolio.