Please join us for tomorrow’s discussion (invite attached and below) on CYBERSECURITY AND DATA PRIVACY: The Evolving Legal and Technical Landscape, led by David Croft, Cybersecurity Chair at Meyers Roman.
In the meantime, we wanted to share a few thoughts from Park City Family Office, Chief Investment Strategist, Rich Gluck:
- Investment grade bond issuers in the US have borrowed boat loads of money. As the chart says, a year worth of borrowing has occurred in a scant five months. Several weekly issuance records were set along the way. No surprise to my faithful readers.
- My Spin: Borrowers are taking precautions against extended shutdowns. Borrow now and build a bridge to the reopened economy. Another implication of this is a bit more subtle. There are a lot of firms who do not and will not have access to the investment grade bond market, let alone the multiple billions in financing available to Disney, Apple or Boeing. Despite some support from the Fed to the high yield market, there will still be many companies that won’t survive. Is some of the precautionary financing aimed at picking up bargains down the road? Stay tuned.
TGIF Live Discussion, Friday May 29th 2020 at 1PM MST // 3PM EST
CYBERSECURITY AND DATA PRIVACY: The Evolving Legal and Technical Landscape
ZOOM ID: https://zoom.us/j/99889982198
Meeting ID: 998 8998 2198
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