“The Fed Doesn’t Get It” A Rate-Hike Means People “Will Be Carried Out On Stretchers”
by Tyler Durden
ZeroHedge.com
12/06/2015
While the US equity market has ‘recovered’ from its Fall fall, seemingly unconcerned about the prospect of increasiongly tighter monetary policy, the credit market is in full crisis mode. Investor alarm at the riskier end of the US corporate bond market is mounting, as The FT notes borrowing costs for the lowest-rated companies climbing to their highest level since the financial crisis. Concerns over the possible impact of a US interest rate increase on more vulnerable borrowers has been exacerbated by rising indebtedness and shrinking revenues among companies, leaving one bond manager to exclaim, “people are going to be carried out on stretchers.”
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