In light of slower expected earnings growth, it only makes sense that firms have grown less keen to take on more debt. Appliance maker Sunbeam and steel producer LTV, for example, are facing industry-specific problems that have forced them into bankruptcy. Given the mediocre business outlook, the Fed has reason to be concerned that creditworthy firms may fall victim to financial market panic. Bank tightening, however, has not extended to other segments of the credit market, and therefore, financially sound firms that do seek capital are continuing to find it. Macro Thoroughly covers the U.S. economy and all its major sectors.
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