Showing posts with label corporate debt. Show all posts
Showing posts with label corporate debt. Show all posts
Sunday, March 8, 2020

8/3/20: Global Economy's Titanic: Meet Your Iceberg

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Here's that iceberg that is drifting toward our economy's Titanic... and no, it ain't a virus, but it is our choice: Via: ...
Friday, February 7, 2020

7/2/20: Mapping Real Economic Debt: BRICS

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Some great charts on real economic debt, via IIF, with my highlighting of the BRICS economies: First off, mapping corporate debt and gov...
Monday, September 23, 2019

23/9/19: Corporate Finance in a Chart

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The glut of debt and the unbearable lightness of corporate leverage:
Thursday, May 16, 2019

16/5/19: Identifying Debt Bubble 4.0

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Having just posted on the debt supercycle-related comments from Gundlach ( https://trueeconomics.blogspot.com/2019/05/16519-gundlach-on-us...
Monday, February 25, 2019

24/2/19: Eurozone's Corporate Yields are not quite in a crisis territory... yet...

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Euro area high yield corporate credit rates are under pressure to continue moving: But they are far from being dramatic, even though ...
Wednesday, February 20, 2019

20/2/19: Crack and Opioids of Corporate Finance

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More addictive than crack or opioids, corporate debt is the sand-castle town's equivalent of water: it holds the 'marvels of castl...
Saturday, January 12, 2019

11/1/19: Herding: the steady state of the uncertain markets

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Markets are herds. Care to believe in behavioral economics or not, safety is in liquidity and in benchmarking. Both mean that once large i...
Wednesday, December 19, 2018

19/12/18: Debt-Debt-Baby: BBB-rated & lower 'bump'

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Gradual deterioration in the quality of corporate debt traded in the markets has been quite spectacular over 2018: The above chart sho...
Saturday, December 8, 2018

8/12/18: Back to the 1950s: Tracing Out 25 Years of the Credit Bubble

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While the current cycle of declining interest rates has been running for at least 25 years, the most recent iteration of the period has be...
Tuesday, October 30, 2018

29/10/18: Corporate Credit and the Debt Powder Keg

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As it says on the tin: despite growth in earnings, the numbers of U.S. companies that are struggling with interest payments on the gargant...
Thursday, September 13, 2018

13/9/18: Shares Buybacks Swallow much of Trump's Corporate Tax 'Reforms'

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A recent post from the U.S. Fed looked at how companies with large holdings of cash abroad have used those funds following the Tax Cuts an...
Friday, June 15, 2018

15/6/18: Italian High Yield Bonds and Markets Exuberance

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Nothing illustrates the state of asset valuations today better than the junk bonds tale from Italy. Here is a prime example from the Fitch...
Friday, March 30, 2018

29/3/18: Credit downgrades and the sunny horizons of peak growth

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The global economy is picking up steam. The U.S. economy is roaring to strength. 2018 is going to be another 'peak year'. Tax cuts...
Tuesday, November 21, 2017

21/11/17: ECB loads up on pre-Christmas sales of junk

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Holger Zschaepitz @Schuldensuehner posted earlier today the latest data on ECB’s balance sheet. Despite focusing its attention on unwindin...
Thursday, July 20, 2017

20/7/17: Euro Area's Great non-Deleveraging

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A neat data summary for the European 'real economic debt' dynamics since 2006: In the nutshell, the Euro area recovery: Gov...
Friday, December 30, 2016

30/12/16: Corporate Debt Grows Faster than Cash Reserves

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Based on the data from FactSet, U.S. corporate performance metrics remain weak. On the positive side, corporate cash balances were up 7....
Thursday, December 29, 2016

29/12/16: Drowning in Debt

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Recently, I posted about the return - with a vengeance - of one of the key drivers of the Global Financial Crisis and the Great Recession,...
Friday, December 16, 2016

16/12/16: The Root of the 2007-2010 Crises is Back, with a Vengeance

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There are several fundamental problem in the global economy, legacies of the past 20 years - from the mid 1990s on - that continue to driv...
Friday, June 17, 2016

17/6/16: Credit markets on the ropes?

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In their research note, titled aptly “Credit Metrics Bode 1ll”, Moody’s Analytics produced a rather strong warning to the corporate credit...
Sunday, May 8, 2016

8/5/16: Leverage and Management: Twin Risks or Separate Risks?

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A new paper “ How Management Risk Affects Corporate Debt ” by Yihui Pan, Tracy Yue Wang, and Michael S. Weisbach (NBER Working Paper No. 2...