The U.S. leveraged loans market market recently topped $1 trillion for the first time ever, having grown each consecutive year since 2010. We asked Randy Schwimmer, head of origination and capital markets at Churchill Asset Management, if markets should be concerned:
"Not by the level per se, which is pretty consistent with the popularity of the asset class. More worrisome is large cap structural deterioration at the borrower level."
Illustration: Sarah Grillo/Axios
Education Secretary Betsy DeVos told "Fox News Sunday" that public schools that don't reopen in the fall should not get federal funds, and that the money should be redirected to families who can use it to find another option for their children.
Why it matters: The Trump administration is engaged in a full-court press to reopen schools this fall, despite warnings from some public health officials that the coronavirus outbreak is out of control in many states and that it will be difficult for many schools to reopen safely.
The Trump administration's coronavirus testing coordinator Adm. Brett Giroir said on ABC's "This Week" that "everything" — including the "stringent lockdowns" that many governors implemented in March and April — should be "on the table" in states where new infections are skyrocketing.
Why it matters: President Trump said in June that the U.S. "won't be closing down the country again" — a view shared by many Republicans who believe that the economic damage caused by stay-at-home orders was too great to justify a second round of lockdowns.