Cross River Intelligence Archives

Greetings, The Fed raised rates for the 3rd time on Wednesday and expect inflation to rise to their 2% target. The range of Fed Funds Rate is now between 2% - 2.25%. A super-majority of committee members indicated that they would like to hike rates by another 25 bps in December. US GDP growth of 4.2% in the 2nd quarter was the fastest since 2014 Q2, and US consumer confidence reached an 18-y ...

Greetings, The Fed’s latest survey on household wealth showed that total net-worth of American households rose by $2.19 Tn QoQ to nearly $107 Tn, driven by rising equity and home values. Household debt grew by 2.9% YoY to $15.4 Tn with consumer credit growing at 4% YoY. Consumer credit growth continues to propel GDP growth, undeterred by rising interest rates. In regulatory news, the C ...

Greetings, This week marks the 10-year anniversary of the Lehman Bankruptcy. With the wounds from the prior financial crisis largely healed, FinTechs and non-banks have stepped up to lend in the void left by banks that retrenched post-crisis. Of the top mortgage lenders, only 52% of loans were originated by banks during the first half of 2018. In the unsecured lending space, Fintech lenders ...

Greetings, Early this week, Funding Circle announced plans to raise £300Mn on the London Stock Exchange through an IPO, valuing the company at up to £1.65 billion. To date, Funding Circle has originated over £5 billion in loans across Europe and the United States. Funding Circle has grown revenue by a 54% CAGR to £63 Mn in the first half of 2018. Funding Circle charges 1 ...

Greetings, The US economy continues its growth streak with 2nd quarter GDP growth revised upwards to 4.2%. Core PCE, the Fed’s preferred inflation indicator, came in at 2% keeping the Committee on track to raise rates at the next meeting. The US consumer also remains on a strong footing with the Consumer Board Confidence measure reaching an 18-year high of 133.4, driven by decades-low une ...