Here comes first of many High Yield defaults… Junk bond default rate to triple within 12 months, S&P says

here comes first of many High Yield defaults$NMG #NeimanMarcus pic.twitter.com/FyQXGcUXCd — Gold Mansacks (@Gold_Mansack) March 23, 2020 $HYG $JNK $BKLN $LQDJunk bond default rate to triple within 12 months, S&P says – CNBC*S&P Global Ratings said the default rate for high-yield, or junk, bonds is heading to 10% over the next 12 months, more than … Read more

Spend! Spend! Spend!

by Shaun Richards The weekend just passed was one which saw one of the economic dams of our time creak and then look like it had broken. This was due to the announcements coming out of Germany which as regular readers will be aware has a debt brake and had been planning for a fiscal … Read more

New York’s mayor calls on Trump for nationwide LOCKDOWN

New York’s mayor urged US President Donald Trump Monday to enforce a nationwide lockdown to contain the spread of the deadly coronavirus, as he pleaded for desperately needed hospital supplies. Bill de Blasio said America’s federal government should roll out orders — such as “shelter-in-place” in California and similar measures installed in New York — … Read more

Police: Man Arrested for Lying About Having Coronavirus to Get Paid Vacation

Thursday, police arrested former Sitel Group employee Jeffrey Travis Long after he reportedly gave a forged letter to his superiors, claiming he had the virus, according to Fox Carolina. “The individual is no longer employed at Sitel,” an update on the company’s website read, adding that it was working closely with law enforcement officials during … Read more

Credit didn’t even blink at Fed. New lows already.

Credit didn't even blink at Fed. New lows already. pic.twitter.com/K91nUbyNec — Graham Summers, MBA (@gsummersmba) March 23, 2020 https://twitter.com/NorthmanTrader/status/1242116721785409542 Fed is in SERIOUS trouble now. Market didn't even bounce on unlimited QE + expanding into corporate and muni debt. WOW — Graham Summers, MBA (@gsummersmba) March 23, 2020 It took 3 months to reach 100,000 … Read more