Since the October lows, stocks have roared back to record highs, and bonds have risen solidly as US 10yr Treasury yields have dropped from 5% to near 4%
Will the bull run continue through the rest of 2024? It is an election year in America after all.
Or, have the animal spirits carried assets to unsustainable prices, putting us in danger of a painful sell-off?
To find out, we have to good fortune to hear from bond expert Alf Peccatiello of The Macro Compass.
He predicts that the higher cost of debt brought on by higher interest rates will indeed start causing many over-leveraged companies to start buckling as $2+ trillion in US corporate debt matures between now and end of 2025.
Follow Alf at https://themacrocompass.substack.com/
And if an accredited investor interested in learning more about his new macro fund, email Alf at fund@themacrocompass.com
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