(https://www.marketwatch.com/story/mortgage-rates-jump-to-the-highest-level-of-2026-7a35f79e?mod=mw_rss_topstories) hitting year highs is the death knell for the "Powell pivot = stable capex" narrative. BA and NOC are drowning in debt from the zero-rate era — BA carrying 9.5B in annual debt service, NOC locked into multi-year defense contracts priced on 2024 cost assumptions. HON's tighter, but still exposed via acquisitions funded at 3% rates now facing refinance pressure.

Research these companies