I have been trying to figure out what will crack PE/PC.. PC variable rate CLOs. If Stagflation/Tariffs hold, US credit gets downgraded from Tax Cuts, BOOM

Wonder if the projected tariff revenues will be huge to pass big tax cuts but they wont put in corporate tax revenue declining from tariffs.

Either way our debt problem is only going to get worse. We need to refi $7 trillion this year of debt and more every year going forward. If credit downgrade this gets ugly fast.

If interest rates shoot north of 7-10% will be a wild ride. Many have equity kickers but what will the equity values be worth?