Wall Street Faces Rapid Bond Crashes and Billion-Dollar Disappearances
Originally Published 3 months ago — by Bloomberg.com
Recent high-profile bond defaults and restructurings, such as Saks, Tricolor, and First Brands, reveal vulnerabilities in the US credit markets, driven by years of excessive borrowing, relaxed covenants, and complacency among investors, raising concerns about potential systemic risks despite ongoing strong market returns.