Richard Russell, RIP
John Mauldin, Editor Outside the Box
Be Careful Out There
The Real Story About Corporate Debt
Mr. Lapthorne has been warning for more than a year that corporate debt is significantly higher than it was on the cusp of the financial crisis in 2007. (Andrew Lapthorne, Societe Generale Global Quantitative Research, “Quant Quickie: As US corporates pile on debt, leverage should now concern the market,” June 12, 2014.)
Counting on a Chine se economic recovery is a fool’s errand.
The November contract also closed at a six-year low of $2.2165/pound on that date.
But matters deteriorated further after that. By November 23, the contract had dropped to $2.0210/pound.
Other companies feeling the pressure include Anglo American plc and Rio Tinto plc.