Philip C. Ordway Original post: https://philipordway.substack.com/p/good-reading-august-2020 Quoted “There’s big trouble coming.” — Steven Mnuchin, on March 9th Facts & Figures “The SEC estimates that $2.7 trillion was raised on private markets last year, compared with $1.2 trillion on public markets.” — Source: WSJ Ball Corp. sold $1.3 billion of bonds due 2030 with a coupon of 2 7/8%, the lowest-ever for a junk-rated company (Ball Corp is BB+, per S&P) according to Refiniti