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?

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

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What factors are contributing to the cautious stance on credit?

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

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

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