On: Blue-collar wages are surging. Can it last?

[soVeryTired]

You think rolling over of debt and new issuance is less important than interest income?

[smallnamespace → soVeryTired]

No, but the 15+ year plus maturity of existing debt stock means that on average, borrowers won't need to go back to the capital markets any time soon.

Slightly oversimplified way to think about it: every year companies need to refi only 1/T of their debt, where T is the average maturity.