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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
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Private equity has leveraged insurance companies’ balance sheets
Over the past decade, private equity has leveraged insurance companies’ balance sheets, increasing financial risk for all of us. Read An Open Letter to Speaker Johnson. The essay goes into specific numbers. Here are some of the big picture implications: … Continue reading
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Canadian real estate crash has staying power
BMO Capital Markets is warning that Canadian home prices haven’t moved in nearly a decade, once adjusted for inflation, and are now in the midst of the largest correction since the 90s. Unfortunately, years of prices leaping far beyond increases … Continue reading
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What if the risk-on cycle has topped
The consensus remains bullish on inflationary expectations, including precious metals, stocks and oil. But then, recency bias is the typical human response. It’s worth considering that cycle peaks could be behind us. Gold pared dramatic losses as US President Donald Trump … Continue reading
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