“Active Re-leveraging”

“Active Re-leveraging”

Ok so this is interesting. One would think, given the experience of the beleaguered US energy complex, that US corporates would be loathe to rack up too much leverage in the post crisis world, especially now that the Fed looks set to finally embark on a hiking cycle. Apparently however, that's not the case. Have a look at the following charts from Goldman which show that leverage among US borrowers (HY and IG) is "stubbornly high" and the only thing keeping the situation tenable is higher inter
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