Bankruptcies continuing to spike … 75 filings in past 3 months among companies with at least $50M in liabilities … worst since 2009 & 2nd-worst quarter ever

Bankruptcies continuing to spike … 75 filings in past 3 months among companies with at least $50M in liabilities … worst since 2009 & 2nd-worst quarter ever @Bloomberg pic.twitter.com/je5aLatNGm

— Liz Ann Sonders (@LizAnnSonders) June 30, 2020

HOUSEHOLD DELINQUENCY pic.twitter.com/vXUvPJHID9

— Win Smart, CFA (@WinfieldSmart) June 30, 2020

“…. the risks are rising that we in August could see a decline in consumer spending and in households’ ability to pay their credit cards, auto loans, rent, and mortgages…” DB’s Slok pic.twitter.com/fMfIdbs5UL

— Sam Ro 📈 (@SamRo) June 30, 2020

$AAPL is dropping its component ordering by at best 50% of its original estimates for 2020, according to Apple Insider and Digitimes

— *Walter Bloomberg (@DeItaOne) June 30, 2020

A record number of U.S. retail companies filed for bankruptcy in the first half of 2020 than in any other comparable period. t.co/VzM0qBjLQn

— Lisa Abramowicz (@lisaabramowicz1) June 30, 2020

NJ is delaying its restart of indoor dining at restaurants. “This is sort of preemptive, as opposed to what we’re seeing in the South right now which is reactive,” Dr. Scott Gottlieb says. t.co/wXbVFFh3xn pic.twitter.com/SoTlrHLcqc

— CNBC (@CNBC) June 30, 2020

Chicago PMI:

"Employment eased 5.1 points in June, marking a
twelfth consecutive sub-50 reading. The index also fell
on a quarterly basis, slipping by 11.2 points to its lowest
level since the global financial crisis." pic.twitter.com/Ij2nKG5uL0

— Eric Basmajian (@EPBResearch) June 30, 2020

Only 50% Americans are working now.

Before #coronavirus, avg. unemployment benefit was $400/wk and #CARESact added a bonus $600/wk that will end on July 31.

Will there be another stimulus or U.S. will creat jobs very fast to encourage consumers to continue ther spending?
-dB t.co/eOfkuYnxHp pic.twitter.com/qI7xATId31

— Mo Hossain (@MoHossain) June 30, 2020

JPM credit and debt card spending trends pic.twitter.com/ZvtHa8JaLO

— zerohedge (@zerohedge) June 30, 2020

The Pandemic Could Become a Debt Crisis, Too

Concerns about the financial repercussions of the coronavirus crisis have largely faded since the first few hectic weeks. That’s a problem, because authorities should be doing much more to prepare for what could be a destabilizing wave of losses.