There is a growing awareness of the debt burden that exists, and this is being reflected by more and more analysts.
Balance sheets are largely dominating income statements in the minds of investors. Despite early efforts to contain costs, once-unthinkable collapses in corporate revenues have put a spotlight on cash burn, liquid assets and debt maturity schedules.
So writes Mohamed El-Erian in the Financial Times.
Mr. El-Erian goes on:
Long-established incumbents are fielding questions from analysts on whether the virus disruption that is hitting their operations also poses an existential threat to their balance