Big Pile of Trouble: Credit Market Cracks Widen

The video discusses the current weakness in credit markets due to rising interest rates, affecting companies' ability to borrow cheaply. It highlights challenges in refinancing and rollovers, with specific focus on industries like cruise and software. The impact of sustained high interest rates and inflation is examined, along with future refinancing needs and market expectations. Speculation on new issuance among higher-grade borrowers in 2023 is also covered.

How have interest rates affected companies' borrowing capabilities?

What is the expected trend for new issuance among higher grade borrowers in 2023?