Companies will need to refinance about $4T of bonds in the next year, almost all of it at higher rates. This will hit debt-burdened ones that are already struggling and make it almost impossible for some to keep operating.

Lenders, i.e. high-yield bond holders, will try to exit their positions all at once only to find a severe shortage of willing buyers. The following week in Train Crash Preview, I listed the steps in which I think the crisis …

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Japan has a 2.5% unemployment rate and a higher labor participation rate than America so its labor market is tight. However, economists are only expecting 1% wage growth in Japan in 2018. Will America become Japanified?

via upfina: The April jobs report in the US wasn’t great as there were misses across the board. The total jobs created was 164,000 which missed estimates of 191,000. The participation rate missed estimates for 62.9%, coming in at 62.8%. …

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Is Inflation Finally Moving Higher?

By Lance Gaitan Stock market volatility was front and center last week, mainly because of President Trump’s proposed tariffs and China’s retaliatory threats. Treasury bond volatility, on the other hand, hasn’t been as active. The long-term Treasury yield dropped to …

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Do Stocks Really Like Higher Rates?

by Lance Roberts LPL Research recently penned an interesting post entitled “Why Stocks Like Higher Rates.”  “What does it mean for equities if rates and yields do indeed go higher? Fortunately, to the surprise of many, stocks historically do very well …

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