Volatility Has Normalized as Trade Conflict Escalated, Gayeski Says

The video discusses the current state of market volatility, comparing it to past years and highlighting the normalization of volatility due to trade conflicts and Fed policy changes. It identifies left tail risks in corporate credit and private lending, noting the growth in high yield and leveraged loans. The discussion includes an analysis of debt and leverage levels, emphasizing the importance of metrics like net debt to EBITDA. The impact of central bank policies on corporate America is explored, with a focus on the potential risks and future outlook for the market.

In what ways have leverage levels changed in corporate America over the past few years?

What potential risks could arise from a surprise recession or trade war escalation?