U.S. experienced 402 corporate bankruptcies in the first 7 months of 2023, a 96% increase from 2022’s total of 373.

Bankruptcies by sector are even more concerning

Consumer discretionary leads with 48 bankruptcies, a sign that consumers are feeling the pain.

Industrials is next, at 46, another sign of pain from higher rates.

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— The Kobeissi Letter (@KobeissiLetter) August 15, 2023