After suffering devastating double-digit losses in 2022, the fixed income market remains more fragile than at any point since the subprime mortgage crisis.

Source: https://www.ft.com/content/dd4c0e82-cfbe-4698-8dde-a77be339d7bd

Banks and institutional funding partners that work with UPST benefit from access to new customers, lower default rates relative to other players in the subprime segment, and increased automation throughout the lending process.

Source: https://seekingalpha.com/article/4570205-upstart-stock-the-train-is-leaving-the-station-but-beware-of-fomo-volatility?source=feed_all_articles

Currently, he noted that PRFD is taking a cautious approach to institutions that have a lot of exposure to subprime lending, given the potential for recession.

Source: https://www.etftrends.com/etf-360-channel/etf-360-pimco-launches-actively-managed-prfd/

New home construction in the suburbs has been slow since the subprime mortgage crisis of 15 years ago.

Source: https://chicago.suntimes.com/2023/5/15/23721722/suburban-development-housing-office-space-markets-schaumburg-sugar-grove-glenview-rolling-meadows

The move is seen as a way to boost corporate earnings as the company spins back its largest U.S. business, subprime auto lending.

Source: https://www.baltimoregaylife.com/santander-expands-investment-bank-in-us-and-uk-sources/