The Memo by Howard Marks cover image

The Insight: Conversations – Fighting the Fed with Armen Panossian, Danielle Poli, and Megan Messina

The Memo by Howard Marks

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The Implications of a Higher Rate Regime for Investors

In the past, companies were bought or financed under a rate regime that assumed stable rates. As a result, debt balances were put in place that today look bloated. In the new vintage, newly created credit can be more conservative and tighter if there's a recession.

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