BlackRock's Lynam Seeing Uptick in Leveraged Loan Defaults

The video discusses the impact of a higher cost of capital environment on different market segments. It highlights the differences in how fixed and floating rate markets are affected, with a focus on the leveraged loan market's rising defaults. The discussion also covers the resilience of the fixed rate investment grade universe and the early stages of distress in the CRE market.

What does the speaker mean by 'the new normal' in the context of the capital environment?

What is the speaker's view on the current state of the distress cycle in commercial real estate (CRE)?