Weekly News – March 25
The BIG trend this week impacting credit markets…
Causing rates to spike…
And bond markets to tumble…
as shown here, against continued strength in equity markets.
What’s the smart money think about bond markets and inflation?
Meanwhile, covenants and maturities no longer matter…
But high yield leverage and coverage look healthy
Coverage metrics at an all-time high
while high yield leverage continues to improve
Sources: JPMorgan; Capital IQ
Puerto Rico is back in the news…
Puerto Rico exits bankruptcy, here, but PREPA restructuring is in the cross-hairs: The Center for a New Economy proposes a steep haircut of 44% on PREPA debts after a third failed attempt at a consensual plan. Full proposal here, summary here.
Is J&J teaching 3M the Texas Two-Step?
What Justice Breyer’s retirement means for bankruptcy safe harbors
Justice Breyer retires, here (aka, Merit Management’s Footnote 2)
Our decision of the week…
Have some downtime?
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June 2-3: Fundamentals of Corporate Financial Statement Analysis
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