Why Apollo's Zelter Is 'Skeptical' of a Soft Landing

The video discusses the disparity between average rates and actual payments, highlighting that companies have already managed their debt. It explains the Fed's transition mechanism aimed at slowing the economy, which is taking longer than expected. The video also covers the US mortgage market and high yield market, noting that the real impact of higher costs has not yet been felt. The speaker expresses skepticism about a soft landing, pointing out tighter financial conditions and a potentially prolonged transition period.

What is the author's perspective on the possibility of a soft landing in the economy?

In what ways have financial conditions changed according to the text, and what might this imply for the future?