Melt up to Melt Down
Real Vision: Finance & Investing
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The Real Vision Daily Briefing - The First Taste of Rare Bourbon
If we get that crash that you predict inequity markets. Will that lead the Fed to change its stance? I'm simply saying the conditions are there. The Fed probably wants to see some companies go broke. Go bankrupt. At some point they will be taken out just on the roll over a prior interest expense. There are a lot of inefficiencies in the system that a lot of zombie companies that should not be around. It's ultimately about default risk. So spreads as you know, as you've written about to write a state fairly tight. And it's tighter than most people would have imagined given how fast rates rose last year largely duration.
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