BREAKING: US bankruptcies hit the second-highest level in 14 years

The number of bankruptcy filings hit 452 year-to-date in August, the second largest since 2010

The number of US bankruptcy filings reached 452 in 2024 through August, the 2nd largest in 14 years.

In August alone, 63 companies went under, the 4th worst month since the COVID CRISIS.

Among different sectors, 69 consumer discretionary firms filed for bankruptcy year-to-date, followed by 53 in industrials and 45 in healthcare.

This concerning trend has been driven by elevated interest rates making companies struggle to pay out their debt and finance their operations as well as US consumers sharply pulling back on spending.

Such a level of bankruptcies have rarely been seen outside of recessions.

CHART OF THE WEEK: US Real Gross Domestic Product (GDP) may be overstated by $616 billion

How do US stocks perform after the Fed cuts interest rates?

US stocks recorded the worst start to September in 23 years. Weekly market recap, trading week 36/2024

If you find it informative and helpful you may consider a paid subscription (or annual if subscribed), become a Founding Member, and follow me on Twitter:

Why subscribe?

https://globalmarketsinvestor.substack.com/about