Chart of the Week

Despite the Fed’s hawkish jawboning, market rate expectations show little increase.

As prices edge down from mid-2022 highs, shelter and services remain under pressure.

Since March the Fed has increased its rate target by 4.25%, the fastest climb ever.

Since March the Fed has increased its rate target by 4.25%, the fastest climb ever.

Leveraged loan all-in yields are seeing levels not present since the GFC.

YTD high-yield loan and bond volume slid 63% and 76%, respectively; direct lending is up 77%.

Since 1878 the worst stock market declines were helped by fixed income. Not now.

Higher spreads and increasing benchmark rate has pushed leveraged loan yields to 10%.

Attendees of our economics October 19 webinar are widely spread in their rate expectations.

Attendees of our economics October 19 webinar are widely spread in their rate expectations.