Higher leverage was one of the influential factors in the great recession of 2008/09. This chart from Bank of America Merrill Lynch shows that not much has changed. While some would like to blame the commodities decline to be behind the woes in the High-yield debt market, this chart clearly shows that even excluding the commodities, the leverage (net debt/EBITDA) is at all-time high.


Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens




