Max Nisen is a Bloomberg Gadfly columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.

Good morning! This is Fly Charts, the daily charts-only newsletter from Gadfly; sign up here. From the junk-bond bonanza to eyewear antitrust, here are four charts that tell you what you need to know in business today.

Flattening Out
A popular narrative suggests that a frothy market is prompting a borrowing binge for junk-rated companies. But that's far too simplistic.
Source: Bloomberg
Lending Less
Bank of America's results are not justifying the enormous appreciation in its stock price since Donald Trump's election.
Source: Bloomberg
Trading Places
Wells Fargo had a long streak as the most reliable U.S. bank. But it's lost the title.
Source: Bloomberg
Blurred Vision
A $53 billion eyewear deal increasingly looks like it might run into antitrust trouble.
Source: Bloomberg

And don't miss Liam Denning on a fateful Thursday for MLPs: "The day began with the by-now-familiar ritual of an overextended member of the ranks, Genesis Energy LP, slashing payouts to investors. This was remarkable chiefly for Genesis' counter-intuitive approach of pairing this disagreeable news with the vague offer of doing a buyback at some point -- as well as insisting repeatedly on a brief investor call that it didn't actually need to cut distributions, you understand."

This column does not necessarily reflect the opinion of Bloomberg LP and its owners.

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Max Nisen in New York at

To contact the editor responsible for this story:
Mark Gongloff at