Category Archives: Credit markets

Longer-Term Treasury Yields & Mortgage Rates Explode, Yield Curve Un-Inverts Further as Bond Market Gets Spooked

Stock jockeys love Trump and bond vigilantes do not. What do their diverging views say about the prospects for the US economy?

Michael Hudson and Richard Wolff: BRICS High Aspirations Versus Cautious First Steps

Michael Hudson and Richard Wolff discuss the recent BRICS summit as well as its rapidly-evolving geopolitical backdrop.

Wolf Richter: Boeing Launches $22 Billion Share Offering to Get Breathing Room, Dodge Junk Credit Rating, after Having Wasted $64 Billion on Share Buybacks

With the equity raise as outlined today, the company will have some limited financial breathing room, and will likely avert a near-term down grade to junk, so one day at a time.

Private Equity Pummeled by Higher Interest Rates as Portfolio Companies and Credit Funds Struggle; Use of PIK Loans Now Recalls Late 1980s LBO Crisis

More and more private equity and private credit deals are looking over-extended. How bad might things get?

Naked Capitalism’s Skunk Party Manifesto Finds a Home in the New Kentucky Party

The Skunk Party Manifesto explained how the best political system money can buy is great for its customers and lousy for the rest of us

Michael Hudson: Forgiveness, Foreclosure, & Christianity

Michael Hudson reprises a favorite theme of how the salutary practice of debt forgiveness came to an end under Greco-Roman oligarchs

The Death of the Engineer CEO: Evidence that Short-Termism and Financialization Had Become Ascendant

A look at how some turning points in the history of Corporate America, such as CEO changes of guard, explain how America hollowed itself out.

The Irrationality of Markets

More evidence that the current level of advanced economy secondary market trading is bad for economic health.

How Kamala Harris Sold Out Struggling Homeowners to Save Banks in 2012 and Then Lied About It

Kamala is under scrutiny for policy flip-flops. Even worse is her lying about the badge of shame known as the 2012 National Mortgage Settlement.

Repaying Bank Loans Destroys Money

Richard Murphy discusses a key, and not well understood, implication of repaying bank loans.

Let’s Abolish the Colonial IMF on Its 80th Birthday

Developing country protesters want the IMF to stop exploiting countries in debt crisis. But is BRICS prepared to fill the gap?

Target Just Became the Latest US Retailer to Stop Accepting Payment by Checks. Why Have So Many Stores Given Up on Them?

Retailers and banks are discouraging the use of checks. Why?

US Fed-Induced World Stagnation Deepens Debt Distress

US and Fed bad cooking has led to weak growth the world, and by urging poor countries to borrow at once-low rates, debt distress.

Power in Sovereign Debt Markets: Explaining the Uneven Debtor–Creditor Landscape and Its Implications

A long time ago, the US intervened on the side of underwater sovereign borrowers. Private creditors now extract even more than back then.