One Possible Consequence Of COVID Crisis: A Rethink Of How Companies Finance Themselves
“The point of equity funding over debt funding is it does not need to be repaid.”
Category: credit
Manny Friedman Suspends Redemptions In Credit Fund Citing Frozen, ‘Nonfunctioning’ Markets
“Market participants fear extreme and irreversible damage”.
‘Where We’re Going, There Are No Roads’: Revolvers, 12-Sigma Plunges And Reluctant Swipers
$162 billion in revolver draws, a warning from Visa and a 12 standard deviation plunge in one bank’s activity gauge.
Out Of Adjectives.
Crazy times, historic moves.
Here’s What It Looks Like When Everyone Frontruns Jay Powell’s ETF Buying…
A $1 billion one-day flow bonanza.
The Fed’s ‘Shock And Awe’ Part II: Open-Ended QE, Corporate Bond Buying, Credit ETF Purchases And More
“Aggressive efforts must be taken”.
Distressed. Officially.
A “massive rush for liquidity”.
In Credit, A Swan Song
This was always the worry. But no one ever took it seriously.
Don’t Call It A Reprieve.
The underlying economic reality is stark.
