Torsten Slok, chief economist for alternative asset manager Apollo Global, believes the credit default cycle is now underway (from The Daily Spark on August 26)…
Since the Fed started hiking in March 2022, default rates have been moving higher, and every day there are companies that cannot get a new loan or refinance an existing loan. This is how monetary policy works. A higher cost of capital makes it harder for firms to get financing. With the strong uptrend in
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