U.S. corporate bankruptcies are soaring above the pandemic-era peak, adding to the economic alarms bells piling up
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The number of U.S. companies that filed for bankruptcy last month topped the highs seen during the early stages of the pandemic in 2020. June saw 75 filings, up from 62 in May and above the pandemic-era peak of 74 in July 2020. The year-to-date total of 356 bankruptcy filings also tops the same period in 2020 and is higher than any comparable figure in the last 13 years. High interest rates, supply chain issues, and slowing consumer spending are weighing on struggling companies. The surge in bankruptcy filings comes as more people on Wall Street are sounding alarms about the economy. Citi Research predicts the Fed will trim rates by 25 basis points eight times, starting in September and extending to July 2025. The creator of the 'Sahm Rule' recession indicator warns that the Fed risks sending the economy into a recession by continuing to hold off on rate cuts.

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https://fortune.com/2024/07/13/economic-outlook-us-corporate-bankruptcies-pandemic-era-high-recession-warning-unemployment/