Consumer discretionary
$18 9. 2 b
Ƽ790%Health care
$63.8b
Ƽ417%
Real estate
$ 2 6.3b
Ƽ618%Financials
$4 9 .6b
Ƽ749%Industrials
$108.8b
Ƽ680%Materials
$51.7b
Ƽ575%It took just two weeks for a decade of easy—sometimes anything-goes—credit
markets to screech to a halt. Investors who were once willing to lend to even
the riskiest companies suddenly pulled away. In response, central banks
promised to flood markets with liquidity. Despite those efforts, market observers
are expecting a surge of bankruptcies as an unprecedented corporate borrowing
binge meets the realities of a post-pandemic economy.
Total market $ 2 14b / $ 9 35b / Ƽ337%
Distressed
airline debt
grew
2 ,040%
prompting
calls for a
bailoutWith theaters
closed, AMC
Entertainment
went from zero
distressed
debt to
$3.7bPlane maker
Bombardier
saw distressed
debt rise to
$8.5bDistressed
debt in
health-care
services grew
755%
VOLUME 29 / ISSUE 2 53