Lending, borrowing and investing in a negative rate world
Inventories tend to have a cycle of their own, growing and contracting several times over the course of an expansion.
The economic backdrop in 2019 has been characterized by weakness in manufacturing being offset by the resilience of services and health of the consumer.
Alternatives for uncorelated income
PG&E (ticker: PCG) filed for bankruptcy - surprisingly the issuer was within the A or better rated pension liability discount rate universe within the prior 12 months.