“Bankruptcy filings for companies with at least $10 million in liabilities are rising sharply.
Since the Fed started raising rates in March 2022, bankruptcy filings have more than doubled.
Corporations, individuals, and the government all got used to historically low interest rates.
As rates have nearly tripled on most forms of debt, bankruptcy filings are rising.
The shock of rapidly rising interest rates is real.”
Bankruptcy filings for companies with at least $10 million in liabilities are rising sharply.
Since the Fed started raising rates in March 2022, bankruptcy filings have more than doubled.
Corporations, individuals, and the government all got used to historically low interest… pic.twitter.com/QtQU8rpoEm
— The Kobeissi Letter (@KobeissiLetter) September 26, 2023
Nearly $270 billion of leveraged loans carry weak credit profiles and are potentially at risk of default: Fitch data. Excluding a 2020 spike, the default rate for the past 12 months is the highest since 2014. t.co/whu9OaPfRQ
— Lisa Abramowicz (@lisaabramowicz1) September 27, 2023
JUST IN: The US junk market has the lowest number of tender offers since 2000, per Bloomberg.
— unusual_whales (@unusual_whales) September 27, 2023
Duration crisis! t.co/SWOqYRK904
— CrossBorder Capital (@crossbordercap) September 27, 2023
#recession … #GFC2 US #PMI edition t.co/9vzcoW8GSm
— Invariant Perspective (@InvariantPersp1) September 27, 2023
Texas services survey like a lot of data rolling over after only very modest summer bump. At best it looks like US services were a touch less awful not really picking up before student loans, oil prices, and lack of savings really bite consumers ahead.t.co/5yE5aEIEJl pic.twitter.com/RBNzxx0JVW
— Jeffrey P. Snider (@JeffSnider_AIP) September 27, 2023