The Most Bullish News All Day: Gigantic Surge In Consumer Credit

American Express credit card

Photo: Wikimedia Commons

We’re not sure what’s up with this yet, but consumer credit grew by $15 billion in June.That compares to $5.07 billion in the month before, and an expected $5 billion.

Revolving consumer credit (so we’re talking credit cards here) grew at an annualized 7.9% in the month.

It’s a surprisingly bullish sign.

The full release is here.

For what it’s worth, the markets don’t care.

Dow gains fading. NASDAQ off over 1% again.

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