Oddbean new post about | logout
 A default cycle has started amid the Fed's high interest rates, economists say. These 4 charts explain how severe it is.

"The ongoing rise in default rates is not just a 'normalization.' It is the direct consequence of Fed hikes."

https://markets.businessinsider.com/news/bonds/default-cycle-bankruptcies-fed-interest-rates-high-yield-debt-costs-2023-11