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Private Credit's Bad Loans Jumped Forty Percent in a Quarter and Nobody Had to Announce It
Business development companies, the listed vehicles through which most retail money reaches private credit, reported debt on nonaccrual status of $9.98 billion in
Daniel Whitmore
Small Caps Led the Year and Then Lost Seven Percent in a Quarter
The Russell 2000 fell 7.2% in the third quarter. The Russell 1000, which is where the large companies live, rose 1.8% over
Daniel Whitmore
The Survey Said Hiring Was Booming. The Payroll Report Said Twenty Nine Thousand Jobs
The September employment report, published on October 2, showed the American economy added 29,000 jobs. Economists had forecast 84,000. The unemployment rate
Daniel Whitmore
The Fourth Quarter Has Been Higher in Thirty Four of the Last Forty One Years
The statistics on fourth quarter performance are unusually strong for a seasonal pattern. Since 1985, the S&P 500 has risen between the
Daniel Whitmore
One Speech Moved the October Rate Odds From Seventy Percent to Forty Four
On September 29, John Williams of the New York Federal Reserve said that after the increase delivered at the September meeting there was no
Daniel Whitmore
The Bond Selloff Quietly Put Corporate Pensions in Their Best Shape Since 2007
The hundred largest corporate defined benefit pension plans in the United States held assets of $1.296 trillion against obligations of $1.156 trillion
Daniel Whitmore
Stocks Now Yield Less Than Treasuries, and That Has Not Been True for Twenty Years
The S&P 500 traded at 19.2 times its expected earnings for the next twelve months as of September 25. Invert that
Daniel Whitmore
Business Activity Is Growing at the Fastest Pace in Five Years, Which Is the Problem
The September flash purchasing managers survey from S&P Global put the composite output index at 58.4, up from 56.0 in
Daniel Whitmore
A Leaked Prospectus Put a Number on What Frontier AI Costs, and It Is $518 Billion
Reuters reported on September 28 that it had reviewed a draft initial public offering prospectus from the artificial intelligence company Anthropic. The figures inside
Daniel Whitmore
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