2025年,消费者信用违约率在Q4下降,但不断上升的差值债务和风险贷款带来了未来的金融风险。 Consumer credit defaults fell in Q4 2025, but rising margin debt and risky lending raise future financial risks.

2025年,消费者信用违约率在Q4下降,但Whalen全球顾问警告说,市场风险不断上升,原因是创纪录的保证金债务和银行向非银行金融公司扩大贷款,特别是提供保证金贷款和与加密有关的活动。 Consumer credit defaults declined in Q4 2025, but Whalen Global Advisors warns of rising market risks due to record margin debt and expanded bank lending to nonbank financial firms, particularly for margin loans and crypto-related activities. 包括SoFi Technology、高盛(Goldman Sachs)和摩根斯坦利(Morgan Stanley)在内的顶级银行股票取得了强劲的年收益。 Despite a November selloff in AI stocks and crypto, top bank stocks including SoFi Technology, Goldman Sachs, and Morgan Stanley posted strong year-to-date gains. 报告告诫说,投机行为和风险增加可能导致金融机构未来信贷损失。 The report cautions that speculative behavior and increasing exposure could lead to future credit losses for financial institutions.