S&P Global Market Intelligence: US corporate bankruptcies showed no signs of slowing in September, closing out the quarter with the most bankruptcies (62) so far in 2023.
"US corporate bankruptcies showed no signs of slowing in September, closing out the quarter with the most bankruptcies so far in 2023."
"S&P Global Market Intelligence recorded 62 bankruptcy filings in September, bringing the third quarter's total to 182. September's total was up from a revised 56 bankruptcies in August as expectations for the Fed to maintain its benchmark interest rate at a higher level for longer than previously anticipated added to economic pressures."
Recall, back in June, U.S. corporate bankruptcies rosee to second-highest level since 2010:
TLDRS:
- S&P Global Market Intelligence: US corporate bankruptcies showed no signs of slowing in September, closing out the quarter with the most bankruptcies (62) so far in 2023 (516 total).
- 114 bankruptcies since the end of July!
- Reminder, while banks have the liquidity fairy, 'we' get the promise of 2 more rate hikes this year, Atlanta Fed President Raphael Bostic yet again enrichens himself inappropriately from his position.
- To fix one end of their mandate (price stability) from the inflation problem they created, the Fed will continue sacrificing employment (the other end of their mandate) to bolster price stability by continuing to raise interest rates--causing further stress to businesses and households.
- I believe inflation is the match that has been lit that will light the fuse of our rocket.
