Markets wail and gnash their teeth as “normalization” of Italian yields sets in.
Some beautiful spikes too.
It was bought out by a PE firm, saddled with $8 billion in debt, and grapples with its fate.
The Fed will keep tightening until these junk bonds buckle.
And its eerie exhortations to the banks to prepare for a downturn to avoid “undue disruption to the financial system.”
I’m shedding a different light on consumer debt.
Plenty of homes for sale, at ludicrous prices for what you get. But asking prices are now getting “reduced.”
Subprime is calling.
Japan systematically dumps US Treasuries while China hangs on.
But no blood in the streets. Just a rate-hike cycle at work.