Auto Subprime Trend Worsens, UBS and Morgan Stanley Warn

The trend in auto subprime loan area is worsening, two nearly identical reports from UBS and Morgan Stanley say. Defaults from undesirables are mounting as the loan standards have been loosened to 2008 housing crisis levels, an issue that has been documented in ValueWalk on several occasions. That trend has populist roots and is gaining strength . . .

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