Schwab's Kathy Jones Is More Cautious on Credit Than Ever

The video discusses the current market outlook, focusing on yield targets and the Federal Reserve's rate hikes. It highlights a cautious approach towards credit due to reduced volatility and tighter spreads. The discussion also covers the fundamentals behind market movements and the potential impact of a higher terminal rate in 2023. Lastly, it examines the relationship between high yield debt and equities, noting that many companies have managed their debt to mitigate short-term rate increases.

What are the expectations regarding the 10-year rate mentioned in the text?

How has the market's perception of rate cuts changed according to the speaker?

What factors are contributing to the cautious stance on credit?

What is the significance of the terminal rate in 2023 as discussed in the text?

How does the speaker relate high yield companies' debt management to rising rates?