If the economy turns down,.. Then junk is overvalued and the people buying it are going to get hurt.
Brian Reynolds
Bonds in the airline sector have been priced with bankruptcy as a real possibility since the spring, so an actual filing shouldn't really have an impact on the market
real possibility market spring impact bonds
For me to get worried about the stock market, you have to show me signs that corporate bonds are getting weak and all this debt coming due isn't going to be rolled over. If you can't roll the debt over, you have to start valuing stocks on an asset basis. If you can roll it over, you have to start valuing it on an operating earnings basis. There's a huge difference in price between those two.
difference start market price corporate debt bonds signs weak
Investors are saying, 'we're not getting as much for the risk, so we're not interested,'
risk
Way too many people have been saying this. I'm even getting people asking if the Fed is buying stocks, which is just too weird.
people weird
people hurt economy
Everyone was reaching for yield. When the Fed first tightened, people were surprised as heck.
people
My gut tells me that spreads and yields are still too high to see a flood of deals. But if the market continues to improve, we will be at a point where a pickup in deals would be feasible.
market flood
A lot of bears feel the only reason stocks are up is because the Fed is pumping money into the system.
money system reason feel
The training and effort we get in Hawaii yields tremendous swims in March at the (NCAA Division II) national championships. And since that is basically our entire season, we've elected to move towards that environment.
effort environment division training
Most schools use (similar trips) as a recruiting tool. It's nothing they're not accustomed to hearing from other schools.
hearing schools
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