Fear The Wall

Everybody has a maturity wall, it's just a matter of how far out it is. That's a familiar refrain, and speaks directly to one of the most important questions facing management teams who were able to lock in low rates during the Fed-facilitated corporate borrowing binge in 2020 and 2021: How long is "longer"? By now, the Fed has a lot of begrudging buy-in for the "higher-for-longer" narrative, even as I'm personally inclined to fade it (consensus is a contrarian indicator, and so is Fed rhetori