‼️US large bankruptcies are tracking the highest levels in 14 years
The number of bankruptcy filings jumped to 634 year-to-date in November, the most since 2010
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US bankruptcy filings of big companies (see the footnote) reached 634 in 2024 through November, the highest level in 14 years.
November saw 69 filings, the 2nd-highest month since the 2020 Pandemic Crisis.
Among sectors, 99 consumer discretionary firms filed for bankruptcy year-to-date, followed by 79 in industrials and 62 in healthcare.
Elevated interest rates and average consumer pulling back on spending continue to take their toll on companies’ operations.
At this point, however, it has to be reiterated that financial markets almost never react to such news unless it happens within the banking/insurance sector or in the case of the biggest country’s retailers. These days the most important thing for investors is still the US labor market and inflation data.
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