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Cory’s Chart Corner
Great chart from @crescatkevin on growing delta between CCCs and BBBs. Carry-on as if everything is normal!
The second indicator is widening CCC vs. BBB credit spreads.
Credit markets are generally quicker to pick up on deteriorating corporate cash flows than equity markets. While the S&P 500 Index has been hitting new all-time highs over the past six months, US triple-C credit
Monthly Archives: February 2024
Unaffordable homes are dead weight
Thirteen years of ultra-easy money (2009-2022) drove an epic malinvestment of resources on a global scale. Now, we are grappling with the weight of those choices. From here, there’s a lot of room to make wiser investments that will increase … Continue reading
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Offices empty, building owners and lenders reeling
Hybrid work has put office building owners in a bind and could pose a risk to banks. Landlords are now confronting the fact that some of their office buildings have become obsolete, if not worthless. Here is a direct video … Continue reading
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Real estate leading economic stall
Some illuminating facts on the ground in this segment. Starwood Capital Group CEO Barry Sternlicht says regional banks have a “giant skeleton in the closet” when it comes to real estate loans. Speaking on Bloomberg Television, Sternlicht also discusses the … Continue reading
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