RenMac Off-Script: Credit Concerns

About this episode

The episode discusses market trends, credit concerns, and potential vulnerabilities in private equity and credit amidst economic shifts.

RenMac breaks down a market that’s still trending higher but losing momentum, as 2-year yields flirt with cycle lows and leadership rotates between cyclicals and defensives. The team discusses why GDP and inflation prints are being distorted by the shutdown, why slowing wage growth could become the real 2026 risk, and what Trump’s State of the Union, tariffs, and Iran could mean for energy markets. They also tackle whether high yield credit is the canary in the coal mine—and why private equity and private credit may be the bigger vulnerability.

Topics covered

• credit concerns
• market trends
• GDP
• inflation
• wage growth
• energy markets
• high yield credit
• private equity
• private credit

Keywords

• 2-year yields
• cyclicals
• defensives
• Trump
• tariffs
• Iran

Mentioned in this episode

Places: Iran

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