Corporate Credit as Percentage of GDP
Investment Grade Has Shorter Maturity Than High Yield
US Corporate BBB Debt
BBB debt is one step above junk.
Rise of the Zombie
Zombie firms are those that are unable to cover debt servicing costs from current profits over an extended period.
If they cannot refinance, they go under.
Zombies crowd the S&P 1500: pic.twitter.com/JY827OAebS
— Greg Gaylor (@SMUMustangAlum) September 23, 2018
Junk Rated Bonds
Never before have there been so many bonds this close to junk.
Bond Market Breakdown (August 2018)
- AAA $0.11 Trillion
- AA $0.59 Trillion
- A $2.60 Trillion
- BBB $3.15 Trillion
- BB $0.57 Trillion
- B $0.52 Trillion
- C $0.16 Trillion
Fed on Hold