Cash Quandary And The Risk Of ‘A Typical Downward Spiral’

Cash Quandary And The Risk Of ‘A Typical Downward Spiral’

Blue-chip US corporates may end up borrowing as much as $2 trillion in 2020, an unprecedented haul in an unprecedented year. Management teams took advantage as the Fed backstopped US corporate credit, prying open the door to a primary market that may otherwise have closed amid the pandemic. Facing an exogenous shock and the most uncertain economic outlook in modern history, both investment grade and junk-rated companies binged on new debt, shattering full-year issuance records in August and Se
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One thought on “Cash Quandary And The Risk Of ‘A Typical Downward Spiral’

  1. A final grab for cash that should have been there in the first place. A last pile on of debt to set the stage for a balance sheet depression. The US seems to have learned almost nothing from Japan’s experience. Tragically blinded by the myth of American exceptionalism. Nobody with influence remembered to whisper ‘memento mori’.

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