Your Evening Read 

A leaked memo says Automotive Credit Corp stopped writing loans effective immediately, hinting at stress under the hood. 

With 90-day delinquencies for 30 to 39 year olds creeping toward Great Recession territory, the easy money engine looks like it is sputtering. If this is the first domino, keep an eye on subprime auto ABS spreads, used car auction prints, and funding costs for specialty lenders.

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Podcast Highlight

Goldman’s Joseph Briggs breaks the panic narrative by showing where AI is most likely to replace routine work and where it can lift productivity and profits. He explains why the timeline matters for investors, with pressure building first in back office tasks while sectors like healthcare and creative fields may get a real boost. 

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