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US bankruptcy filings
US bankruptcy filings. Note: Bankruptcy figures include public companies or private companies with public debt with a minimum of $2 million in assets or liabilities at the time of filing, in addition to private companies with at least $10 million in assets or liabilities.

S&P Capital IQ, Bloomberg, Apollo Chief Economist

  • Rising US corporate bankruptcies are due to Fed rate hikes, Apollo chief economist said.
  • Higher rates have increased borrowing costs, pressuring companies with high levels of debt.
  • Filings so far this year have reached 516, potentially on track to outpace 2020.

Bankruptcies are surging this year and on track to outstrip 2020, potentially setting up 2023 to be the worst year for corporate bankruptcies in over a decade.

Tags
Markets, mi-exclusive, fed-rate-hikes, Bankruptcy, corporate-debt, Inflation, bond-yields, interest-rates, economy
Source
Bankruptcies are surging - and Fed rate hikes are to blame, economist says