Remember in December when we were told incessantly that "meh, it's just 25bps!"
It appears that 'liftoff' in rates is having a real impact on a particular sector as the potential for tightening credit conditions (and higher costs of funding) have crashed the stocks of peer-to-peer/direct lenders like Lending Tree, OnDeck, and Lending Club.
Another bubble bursts! And the companies are shocked!
- *LENDING TREE NOT AWARE OF ANY REASON TO JUSTIFY SHR DECLINE
It seems someone is...
Dear Janet, it appears the US consumer (or small business) is nothing like as strong as you "believed."