From commercial loans to the corporate bond market. Things look fragile.
The "experts" tell us it's nothing like 2009 yet they said we had nothing to worry about back then either.
I think things are going to get messy.
— Jason Stapleton ☕️ ✍🏼 🎙️ (@Jason_Stapleton) June 2, 2023
Default wave imminent, will peak in 2024, Deutsche Bank says
LONDON, May 31 (Reuters) – A wave of debt defaults by companies in the United States and Europe is imminent, due in part to the fastest monetary tightening cycle in 15 years, Deutsche Bank said in its annual default study released on Wednesday.
Deutsche expects default rates to peak in the fourth quarter of next year. It forecast peak default rates to reach 9% for U.S. high-yield debt, 11.3% for U.S. loans, 4.4% for European high-yield bonds and 7.3% for European loans.
Bank of Canada has said mortgage payments in the country could spike as much as 40%, per Globe and Mail.
— unusual_whales (@unusual_whales) June 2, 2023
JPMORGAN'S PINTO: THERE WILL BE A RECESSION AT SOME POINT.
— FinancialJuice (@financialjuice) June 2, 2023