Citigroup Sees Stable Card Delinquencies as Charge-Offs Tick Higher in February
Citigroup’s credit-card delinquency rate remained steady in February as net charge-offs ticked higher while lending activity waned slightly. Separately, firm analysts flagged that gold has shifted into risk-asset mode following a U.S. president’s delay of Iran strikes, citing record momentum buying over the past six months.
1. Credit Card Delinquency and Charge-Off Trends
In February, Citigroup’s credit-card delinquency rate held at January’s level while net charge-offs edged upward, reflecting a modest pullback in lending activity. The slight rise in charge-offs signals a cautious credit environment and could influence reserve allocations in upcoming quarters.
2. Analysts’ Gold Market Assessment
Citigroup strategists noted that gold has begun trading like a risk asset after the U.S. president postponed strikes on Iranian energy targets for five days. They pointed to extreme momentum and retail buying over the past six months as drivers of this pro-cyclical behavior.