The app for independent voices
Software Distress Is Not a Macro Problem … Buddy!
👉 while the yield on software loans has increased significantly, yields on loans more generally have actually been going down — see chart below
👉 this suggests that the distress in software is largely idiosyncratic, rather than driven by a broad-based macro deterioration in credit conditions
P.S. way more on the U.S. Economy via my improved deep dive — for both Top-Down & Bottom-Up approaches, connecting the mighty Macro-Finance bridge:
✍️ The State of the U.S. Economy in 75 Charts
P.S. also via the two distinct S&P 500 reports & MSCI World report — materially improved in all areas: structure, flow, insights & special metrics you rarely see:
✍️ S&P 500 Report: Valuation, Fundamentals, Special Metrics & Leading Indicators
✍️ S&P 500 Report: Performance, Sentiment, Seasonality, Technical Analysis
✍️ MSCI World Report: The Ins and Outs!
Free to subscribe = free to get!
With respect,
Mav
