Marketplace Wine country is heating up
23 snips
Mar 24, 2026 
Mitchell Hartman, Marketplace reporter who visits Oregon vineyards adapting to hotter seasons. Austin Golding, CEO of Golding Barge Lines, on barging, the Jones Act waiver, and oil price swings. Daniel Ackerman, commodities reporter, on copper’s price moves. Erica McIntyre, policy fellow and former BLS commissioner, on productivity revisions. Short takes on climate, supply chains, markets, and labor data.
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Private Credit Filled The Postcrisis Lending Gap
- Private credit boomed after the 2008 crisis because banks pulled back and investors chased yield.
- Funds grew to nearly $2 trillion, offered 8–10% returns, but lack bank-style disclosure and reserves, raising rollover and default risks as rates rise.
Maturing Loans And Rate Shock Raise Default Risk
- Many private credit loans made in 2021–22 are five-year notes hitting maturity now when interest rates are much higher.
- Higher rollover rates increase borrower default risk, and funds can restrict investor withdrawals, creating liquidity strains.
Productivity Revision Lowers Q4 But Trend Remains Strong
- Q4 productivity was revised down from 2.8% to 1.8% driven by lower output while hours stayed unchanged.
- Despite the revision, the U.S. still posted solid multi-year productivity gains (around 2–3%), which matter for living standards and Fed policy.