Prime Time For Subprime
- J.P. Morgan reported earnings this week amid a backdrop of several high-profile subprime bankruptcies. Despite these headwinds, CEO Jamie Dimon emphasized that the U.S. economy remains resilient.
- Occam highlights an increasing divergence in financial sentiment among U.S. adults across income levels. Among households earning less than $50,000, financial well-being has reached its lowest point in at least five years (history of data collection). In contrast, those earning more than $100,000 report record levels of financial confidence — a dynamic partly supported by rising investment portfolios and new highs in equity markets.
- The broader economic environment remains fluid. While lower-income consumers continue to show signs of strain, higher-income households appear increasingly dependent on stock-market performance to sustain spending momentum.
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