y jim casey is the head of global debt capital at jpmorgan.ions i've had of late revolve around energy and skip from the equity side to the balance sheet to the reliability side of a balance sheet. 18% of high yield is energy, jim. what are you seeing in that market right now, and are you concerned? >> we are concerned. 18% is a lot because it's a $1.9 trillion market. you're talking around $350 billion worth of debt that's going to need to be repaid. i think just to back up, the reason why these companies came to the high yield market in the first place was they obviously wanted to raise money without kov answer in to build out fracking and fracking infrastructure. so that's how the concentration came to exist in the first place. but it's a big issue, david, because obviously as oil prices dropped, their ability to generate free cash flow is challenged. so a lot of these bond prices have been dropping fairly dramatically. >> so what are your expectations in the market? what number, for example, of bonds are now priced below 90 cents in terms

we had jim casey on a couple of weeks ago from jpmorgan who runs all things capital market related sayingrge financings. you see a small deal. mid street petroleum selling stuff to other company. it's a $90 million sale of assets. he got terminated? you can guess. the buyer could not get financing. this is starting to happen in energy. you've got the larger issue talking about leverage buyouts. there hadn't been that many big ones this year. it's been about exits talking about private equities. there is a petsmart deal out there. a big crackdown on banks' ability to lend in highly-leveraged transactions. that has taken out a lot of capacity from the banks and so you dump that into the high yield market which you are going to have to fund a lot of financing more from just bonds as opposed to loans. again, you have to keep an eye on these things. i think it's worthy of examination from people and something i'm going to be a bit more focused on is what's going on in fixed income. is there something spreading from high yield and worries when it comes to energy beyond that? is it leading to a

jim. >> axelrod: thank you. let's bring in meteorologist lauren casey from wcco. i guess they're not all done with the wet forecast in california, are they? >> no, they're drying out for now, but another storm system is it brewing over the pacific and will move onshore tomorrow into monday and bring another several-day bout of heavy rain fall to areas along the west coast. meanwhile, the system that impacted these areas this past week continues to move east and will pose a severe weather threat to portions of the central and southern plains tomorrow with widespread thunderstorm activity across kansas, oklahoma, and texas. and as a low-level jet or fast winds in the midlevels of the atmosphere develops, the severe threat will increase into the day. more than 12 million people are under threat of damaging winds, hail, and isolated tornadoes, including dallas and oklahoma city. the greatest risk for tornadoes is in southern oklahoma and northern texas. >> axelrod: lauren casey with a lot for us to keep our eyes on. thank you. with a midnight deadline approaching toni

nor was bill casey who did not have much of a sense of humor. jimwn off the plane for about three days. he returned unrepentant with the same assessed for both his job and life in general. jim loved good food and good wine. we ate and drank our way through the primary, the convention, and the fall campaign. i have the expense account records to show for it. i went back and looked at them. it was wonderful. he loved to eat any love to cook. after ronald reagan won the election, jim really wanted to be press secretary. as you have heard, the transition team took their time. he was an outsider. he was perceived as more moderate, brady joked that one point so much time had elapsed and lunches with him during the transition were no longer tax-deductible. then the was the narrative that suggest that nancy reagan thought that he was not good looking enough to be your husband's spokesman. at one point, he came out to begin his daily briefing saying i come before you today as not just another pretty face but out of sheer talent. [laughter] when he did get th

nor was bill casey who did not have much of a sense of humor. jim plane for about three days. he returned on repentant with the same assessed for both his job and life in general. jim loved good food and good wine. we ate and drank our way through the primary, the convention, and the fall campaign. i have the expense account records to show for it. i went back and looked at them. it was wonderful. he loved to eat any love to cook. after ronald reagan won the election, jim really wanted to be press secretary. as you have heard, the transition team took their time. he was an outsider. he was perceived as more moderate, brady joked that one point so much time had elapsed and lunches with him during the transition were no longer tax-deductible. then the was the narrative that suggest that nancy reagan thought that he was not good looking enough to be your husband's spokesman. at one point, he came out to begin his daily briefing saying i come before you today as not just another pretty face but out of sheer talent. when he did get the job, his knowledge

certain however is that jim harbaugh will be serving up the fifth and final year of his contract with the niners in on a baseball services could try as brand new third baseman casey mcgee after trade with miami marlin and the trends of having to minor-league pitchers to the marlins to committee will look the pandora's local grew up in setscrews and hit to 87 last year with four home runs hit drive-in's 76 runs in both the batting average rbi numbers actually better than send of all members last season. treading for mcgee not the only chance to move however and richard j. pp is returning to the giants. san francisco agreeing to the $24 million deal and they say they consider other options for openly deciding on two more years in san francisco 33 year-old right- hander is 0 for the transom came over from boston in july than it lights out down the stretch open giants and the playoffs in six and four 2.17 era >> : this a lot for you on this weekend latest on the flooding from the chevron refinery in richmond county officials are saying about the oil company i doing enough to insult to it as a committee questions the coming up as we got a break happening in e space to