This week, our 3 Things are: 1. Higher for longer. Back to normal. Do you remember normal? 2. Apollo on secular change in credit markets. It makes a lot of sense. 3. NAIC’s (E) Committee memo. A step in the right direction, but you need to stay on top of this story.

This week, our 3 Things are: 1. Consumer spending. Brookings has a provocative perspective. 2. Airline reality. Watch margins as demand normalizes and costs remain elevated. 3. Pricing power. The pendulum is beginning to swing back.

This week, our 3 Things are: 1. The biggest risks to credit. 2. Banks + Fed. A rare, one-two tightening force. 3. KBRA DLD default forecast. Eric Rosenthal joins to elaborate.

This week, our 3 Things are: 1. The rise in stocks. Is it threatening credit spreads? 2. The New York Times says credit markets are creaking. We’ll have a look. 3. Economic divergence. Beware of focusing only on the aggregate.

This week, our 3 Things are: 1. Recession risk. From the Trade’s perspective. 2. Tightening the box. It’s tougher to get a consumer loan. 3. Capital One’s color on the consumer. Always insightful.

This week, our 3 Things are: 1. That CPI report. Just how shocking was it? 2. Jobs market. Disinflation and low joblessness? 3. Revenge spend. Is it fading?

This week, our 3 Things are: 1. Distressed credit diverges from spreads. Does that make sense? 2. Consumer sentiment bounces. Perspective is important. 3. Corporate earnings growth. It is important to understand what has been driving it.

This week, our 3 Things are: 1. Midyear observations. Risk is very well bid. 2. Second half valuation drivers. We’ll go through a point-by-point rundown. 3. Deflationary force reversal. What does it do to cost structures?

This week, our 3 Things are: 1. Exuberance. Is it rational or irrational? 2. Freight recession. It’s real, and we’re not out of it yet. 3. Credit contraction. It’s happening, and it leaves a mark.