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96_eclipse
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96_eclipse 2 years ago
Behind enemy lines today at a bank capital markets update: * The current macro is “Weird, Unprecedented, elephant in the room, no crystal ball” (emphasized over and over) * Data and indicators all going opposite directions * Inflation is real and don’t expect rate cuts this year * Wondered if we’d have a soft or hard landing but so far we’ve had no landing * PE firms scratching heads because portfolio companies seem fine * Lots of dry powder ($4T+) * Crowd laughter when asked of risk of default from not increasing the debt ceiling “the old saying goes it’s not a concern, unless they don’t increase it, then it’s a huge concern”
96_eclipse's avatar
96_eclipse 2 years ago
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