Jim, Evan and Phil assess the state of play in high-yield credit, macroprudential regulation and an instructive recent op-ed in @WSJ.

1:40 #Trump and the USS John McCain

5:24 Do businesses need a rate cut?

10:26 An Aiful-ly low yield

16:16 Alternatives to raising rates

Subscribe to Grant's Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant's Interest Rate Observer is available at http://www.grantspub.com