Charts That Matter- 16th Jan

ECB Balance sheet hit fresh all time high at €4,703.4bn as QE reinvestments higher than redemptions. ECB balance sheet now equates to record 42% of Eurozone GDP while Fed’s balance sheet has shrank to 19.6% of US’ GDP.

Higher yields + wider spreads in 2018 have left nearly 80% of corporate credit trading below par – highest % in the last decade.

European debt

Utility companies are safe? Think again.
Bankruptcy Next, PG&E Says. Shares Down 90% in 15 Months. From “Investment Grade” to “Default” in Three Weeks

The world’s debt pile is hovering near a record at $244 trillion

A new winner every decade- Alpine Macro

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