Greetings,
Equities: Global sentiment is decidedly in risk-off mode, partly driven by credit developments in China. The Hang Seng Index is down 3.5%.
Credit: M&A transaction volumes have surged over the past year, boosting debt levels. Corporate debt as a percent of GDP remains far above highs seen in previous cycles (2 charts).
Energy: Clean energy shares rallied last week.
Rates: Primary dealers expect a pop in Treasury yields by the end of the year.
China: Who are the largest holders of Evergrande bonds?
Food for Thought: US college tuition and fees:
Edited by Daniel Moskovits
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