Daily Data: Corporates aren't paying interest

They loaded up on free money when the getting was good . . . but someone is on the other end of that trade

One consequence of higher interest rates is that corporates are paying less in interest rates. Yes, less.

Confused? Read on.

Everything reads better in your browser or in the app. The footnotes especially, and Random Walk is really leaning into the footnotes. Plus, if you have the app, you can set delivery to “app only” and then my daily barrage will feel less like a barrage. Unfortunately, substack does not yet have a “Weekly Digest” option, but I’m hectoring them aplenty.

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Daily Data