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Deep-DivesGlobalCurated insights across markets, macros, history, and intelligenceShowing 8 of 8
Distilling high-signal intelligence into digestible insights.
Deep-DivesGlobalShowing 8 of 8
*Private credit AUM for some of the largest players. It's grown ~4x in the last 7 years. #Gain*
> Apollo: "Recessions are occurring less frequently, see chart. For investors, this means full-blown credit cycles occur less often. Between recessions, i**nvestors should prepare for sector-specific cycles**, such as the **current downturn in software**, where one or two subsectors face distress while the rest of the economy is fine. **The bottom line is that credit opportunities arise not just during recessions,…
Private credit AUM for some of the largest players. It's grown ~4x in the last 7 years. #Gain
Apollo: "Recessions are occurring less frequently, see chart. For investors, this means full-blown credit cycles occur less often. Between recessions, investors should prepare for sector-specific cycles, such as the current downturn in software, where one or two subsectors face distress while the rest of the economy is fine. **The bottom line is that credit opportunities arise not just during recessions,…
OASDI stands for Old-Age, Survivors, and Disability Insurance. It’s the official name for what most people simply call Social Security in the United States.
It’s the official name for what most people simply call Social Security in the United States. Currently, Social Security is a major driver of "mandatory spending," and as the program exhausts its trust funds, it will exert immense pressure on…
The global population age 65 and over will rise from 0.8bn to 1.6bn by 2050: Significant need for retirement savings and new retirement products #Apollo
Apollo: Chart book (available here) documents the growing retirement crisis.
Apollo : Ten facts about retirement savings
A Ticking Time Bomb?
Apollo: With margin debt at record highs, any downturn in stocks risks turning into a sharper correction as leveraged investors are forced to sell into falling markets, see chart.
Apollo: Consumer spending data from the New York Fed shows a clear K-shaped pattern where growth has been faster for high-income households than low-income households, see the first chart. The stronger growth in consumer spending for high-income households is driven by the K-shaped growth in wages and wealth, see the second and third chart.
"An AI bubble tops credit investors' list of worries for the first time ever, according to the BoA survey."
"Investors now expecting $285 billion of debt issuance from hyperscalers this year (up from expectations of $210bn in Dec.)"
