over the past few years, airlines have stopped hedging their jet fuel... So none of them are hedged going into this.
JP Morgan had their Default Monitor this week... this is the combined high-yield loan distressed universe. It's hit its highest level since June of 2023. If they can't figure out how to get policy rates lower, these things have a tendency to spiral.
as an investor, you should be more cautious going into the midterms because you have this huge vol event sitting out on the horizon. And the stakes are, you know, fever pitch, record stakes