{"id":61985,"date":"2026-05-15T13:38:25","date_gmt":"2026-05-15T17:38:25","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-brief-auto-delinquencies-reach-32-year-high-as-ny-fed-boosts-gdp-outlook\/61985\/"},"modified":"2026-05-15T13:38:25","modified_gmt":"2026-05-15T17:38:25","slug":"global-brief-auto-delinquencies-reach-32-year-high-as-ny-fed-boosts-gdp-outlook","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-brief-auto-delinquencies-reach-32-year-high-as-ny-fed-boosts-gdp-outlook\/61985\/","title":{"rendered":"Global Brief: Auto Delinquencies Reach 32-Year High as NY Fed Boosts GDP Outlook"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Auto loan delinquencies have surged to a 32-year high<\/strong>, driven by record-high monthly payments and consumer exhaustion.<\/li>\n<li>The <strong>NY Fed<\/strong> slightly increased its <strong>Q2 GDP Nowcast to 2.61%<\/strong>, suggesting the U.S. economy remains on a moderate growth path.<\/li>\n<li><strong>U.S. oil rig counts rose by 5 to 415<\/strong>, according to the latest data from Baker Hughes (<a href=\"\/stock\/BKR\">BKR<\/a>), signaling a potential uptick in domestic production.<\/li>\n<li><strong>Madrid categorically denied<\/strong> allegations that EU recovery funds were used to pay for state pensions, citing a &quot;technical accounting issue.&quot;<\/li>\n<li><strong>Ukraine has uncovered Russian documents<\/strong> detailing planned strikes on government facilities in Kyiv, specifically targeting Bankova Street.<\/li>\n<\/ul>\n<p>The U.S. consumer is showing significant signs of strain as <strong>auto loan delinquencies hit their highest level in 32 years<\/strong>. Borrowers are increasingly struggling to keep up with <strong>record-high monthly payments<\/strong>, a trend that is beginning to weigh on the broader credit outlook for lenders like Ally Financial (<a href=\"\/stock\/ALLY\">ALLY<\/a>) and Capital One Financial (<a href=\"\/stock\/COF\">COF<\/a>). <em>Analysts note that the combination of high interest rates and inflated vehicle prices has pushed many household budgets to a breaking point.<\/em><\/p>\n<p>Despite the stress in the credit markets, the <strong>New York Fed<\/strong> has slightly upgraded its economic outlook. The <strong>Q2 GDP Nowcast was revised upward to 2.61%<\/strong>, up from the previous estimate of <strong>2.59%<\/strong>. This adjustment suggests that while certain consumer segments are faltering, the overall economy continues to exhibit <em>resilient growth characteristics<\/em> heading into the middle of the year.<\/p>\n<p>In the energy sector, Baker Hughes (<a href=\"\/stock\/BKR\">BKR<\/a>) reported that the <strong>U.S. oil rig count increased by 5 to 415<\/strong> for the week ending May 15. The <strong>total rig count rose to 551<\/strong>, even as gas rigs saw a marginal decline of <strong>1 to 128<\/strong>. This increase in oil-directed drilling suggests that producers like ExxonMobil (<a href=\"\/stock\/XOM\">XOM<\/a>) and Chevron (<a href=\"\/stock\/CVX\">CVX<\/a>) remain focused on expanding capacity despite <em>volatile global price signals<\/em>.<\/p>\n<p>In Europe, a political firestorm has erupted as <strong>Madrid categorically denied<\/strong> reports that EU recovery funds were diverted to pay for state pensions. Spanish officials suggested that a <strong>&quot;technical accounting issue&quot;<\/strong> is being weaponized by political opponents ahead of critical EU budget negotiations. The European Commission reportedly requested clarification on the matter but has not pursued further action since Spain provided its formal explanation.<\/p>\n<p>Geopolitical tensions reached a new peak as Ukrainian President Volodymyr Zelenskyy revealed that intelligence services have obtained <strong>Russian documents outlining strike targets in Kyiv<\/strong>. The plans specifically identify military and government facilities, including the high-profile <strong>Bankova Street<\/strong>, where the Presidential Office is located. <em>The disclosure underscores the ongoing threat to Ukraine&#39;s leadership and the potential for a new wave of escalatory strikes in the capital.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Auto loan delinquencies have surged to a 32-year high, driven by record-high monthly payments and consumer exhaustion. The [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[5012],"tags":[4824,5030,5656,6026,6448,7802,7941,16315],"class_list":["post-61985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-news","tag-geopolitics","tag-energy","tag-eu-budget","tag-macroeconomics","tag-bkr-stock-bkr","tag-cof-stock-cof","tag-auto-loans","tag-ally-stock-ally"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/61985","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=61985"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/61985\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50383"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=61985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=61985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=61985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}