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Finance

4% Yields on Investment-Grade Credit Are a Gift You Should Accept

Recession odds are up and GDP is barely positive. But investment-grade default rates are 0.04%, and yields near 4.5% are paying you to hold risk that corporate balance sheets can easily absorb. The rotation into T-bills and TIPS is leaving real income on the table.

By Marcus Cole · 3 min read

Finance

The Soft Landing Depends on a Consumer Who Doesn't Exist

Real spending growth of 2.1% sounds healthy until you ask who is doing the spending. The bottom quartile of earners is already losing ground to 4.1% inflation, and a single energy shock could turn a fracture into a break.

By Ray Vega · 3 min read