Key Takeaways
- US credit rejection rates have surged to 25%, reaching their highest level since the Great Financial Crisis and significantly impacting consumer access to credit cards, mortgages, and auto loans.
- Boeing's (BA) Chief Financial Officer expects free cash flow growth in the low single digits next year, a cautious outlook shared at a UBS conference.
- US vaccine advisers, including those associated with RFK Jr., are slated to review whether certain vaccinations are contributing to allergies, as reported by The Washington Post.
- The UK government has decided to postpone its approval decision for the London China Embassy until January, according to The Times.
- The United States is planning to utilize unused diesel generators to increase its power supply.
Amidst a backdrop of tightening financial conditions, US credit rejection rates have skyrocketed to 25%, marking the highest level observed since the Great Financial Crisis. This significant increase impacts a broad spectrum of consumer lending, including credit cards, credit limit increases, mortgages, auto loans, and other personal loans, signaling a more challenging environment for borrowers.
In corporate news, Boeing's (BA) Chief Financial Officer indicated at a UBS conference that the aerospace giant anticipates free cash flow growth in the low single digits for the upcoming year. This projection offers a measured outlook for the company's financial performance amidst ongoing industry dynamics.
On the health front, US vaccine advisers are preparing to conduct a review into whether certain vaccinations may be a cause of allergies. This initiative, also involving RFK Jr.'s vaccine advisers, was highlighted by The Washington Post.
Geopolitical developments include the UK's decision to delay its approval decision for the London China Embassy until January. This postponement was reported by The Times. Meanwhile, the United States is reportedly planning to tap into unused diesel generators to bolster its power generation capacity, according to statements from Wright.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.