A decade of unfastened financial coverage has led dangerous US firms to borrow at rock-bottom charges within the mortgage market. Now analysts are warning that debtors with loan-only steadiness sheets are extra susceptible to downgrades and defaults as greater rates of interest chunk. And traders are pulling again from sure sectors.
The proportion of loan-only issuers within the Morningstar LSTA US Leveraged Mortgage Index stood at 58% at year-end 2022, in line with Barclays, up from 38% a decade earlier. Mortgage-only
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