Changing State of the US Consumer
The Consumer and Credit Implications of Normalized Borrowing Costs
Overview
After years of exceptionally low interest rates, consumers and businesses are still adapting to a world where borrowing costs are stuck at higher levels and potentially moving higher. As higher mortgage rates, auto loan rates and credit card APRs are adding to other pressures on consumers, which consumers and sectors are most exposed, and where are the biggest risks and opportunities emerging?
In this webinar, Moody’s Ratings analysts will examine how current conditions are shaping consumer behavior. Topics include:
- How are we thinking about the outlook for interest rates and other macro economic factors contributing to consumer behavior?
- What are impacts of higher borrowing costs and lower consumer confidence on home improvement and other retailers?
- How are higher insurance costs affecting households navigating the environment?
- Where is consumer credit demand evolving and how are lenders responding?
Speakers
Bobby Jorgensen
Vice President, Structured Finance Group
Moody's Ratings
Bruce Ballentine
Vice President, Insurance
Moody's Ratings
Madhavi Bokil
Executive Director
Moody's Ratings
Christina Boni
Senior Vice President, Retail, Corporate Finance
Moody's Ratings
Mike Taiano
Vice President, Consumer Finance
Moody's Ratings
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Bobby Jorgensen is a VP on the consumer ABS new ratings team at Moody’s. He has over a decade of experience in the ABS market, in both credit analyst and bond trading roles. Prior to working in the ABS market he served as an officer on active duty with the United States Marine Corps. He has an MBA from New York University’s Stern School of Business and a BA from Fordham University’s Gabelli School of Business.
Bruce Ballentine is a Vice President in the insurance rating group at Moody’s Ratings. He is the lead analyst for several major property & casualty insurers as well as insurance brokers and service companies. He also writes and speaks on various insurance industry themes. Bruce has worked at Moody’s since 2005 and in 1991-1995, and has done insurance related work at ABN AMRO Bank and The Bank of New York. Bruce holds a BA in geology from Harvard College and an MBA from Columbia Business School.
Madhavi Bokil is an Executive Director, heading the Macro Research Team of the Credit Strategy and Standards Group. She is a member of Moody’s Macro Board and the lead author of Moody’s Global Macroeconomic Outlook.
Before joining Moody’s Ratings Madhavi held positions as Senior Economist at AIG and GE Capital, undertaking global macroeconomic analysis, forecasting and CCAR stress testing. Prior to that she held a faculty position in the Department of Economics at Clark University, where she pursued research in and taught International Macroeconomics and Monetary Economics. She holds a BA in Economics from Fergusson College, Pune, India, a MA in Economics from the University of Mumbai, India and a PhD in International Economics from the University of California at Santa Cruz.
Christina Boni is a Senior Vice President with Moody’s Ratings and is responsible for a portfolio of investment grade and speculative grade companies in the retail sector. Prior to joining Moody’s in January 2016, Christina was a Managing Director for Royal Bank of Canada (RBC) and a sell-side leverage finance analyst at Credit Suisse. She was voted by clients to the Institutional Investor Fixed Income team for the Retail sector for seven consecutive years. She also was appointed to the Institutional
Investor Fixed Income team for her work in the Supermarket and Food and Beverage sector.
Christina holds a B.S. in Economics from the Wharton School of the University of Pennsylvania and a M.B.A from the Harvard Business School.
Mike covers a portfolio of US banks and consumer finance companies.
Prior to joining Moody’s Ratings, Mike spent eight years as a lead analyst at another rating agency and fifteen years as a stock analyst, responsible for the coverage of several large banks and non-banks. Mike holds an MBA with a finance concentration from the University of Florida and received his undergraduate degree in accounting from Pace University.
30+ years’ professional experience (including 3+years at Moody’s Ratings)