bloomberg opinion

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  • July 26, 2022


If everyone feels so miserable, why do they seem to be out having a good time? This is the puzzle in comparing US second-quarter bank results with terrible readings in recent consumer sentiment surveys.

Citigroup Inc.’s customers are spending freely on restaurants and holidays, which drove credit card volumes up 18% compared with those in the period a year earlier, the bank said in its results Friday. Wells Fargo & Co. similarly called out travel and entertainment in the spending growth on cards in its results. JPMorgan Chase & Co. said much the same the

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