Bankruptcy filings at highest in a year as interest rates bite: S&P Global

seekingalpha05-12

Bankruptcy filings by U.S. corporations sprang to the highest level in a year last month, with S&P Global Market Intelligence saying companies are feeling the weight of lingering high interest rates. ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2434358965?lang=en_US&edition=fundamental","thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/172726837/image_172726837.jpg","is_english":true,"pubTime":"2024-05-12 22:00","share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","id":"2434358965","market":"sh","top_or_hot":-1,"title":"Bankruptcy filings at highest in a year as interest rates bite: S&P Global","media":"seekingalpha","content":"<div>\n<p>Bankruptcy filings by U.S. corporations sprang to the highest level in a year last month, with S&P Global Market Intelligence saying companies are feeling the weight of lingering high interest rates. ...</p>\n\n<a href=\"https://seekingalpha.com/news/4104727-bankruptcy-filings-at-highest-in-a-year-with-as-high-interest-rates-bite-sp-global\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bankruptcy filings at highest in a year as interest rates bite: S&P Global</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBankruptcy filings at highest in a year as interest rates bite: S&P Global\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-12 22:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4104727-bankruptcy-filings-at-highest-in-a-year-with-as-high-interest-rates-bite-sp-global><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bankruptcy filings by U.S. corporations sprang to the highest level in a year last month, with S&P Global Market Intelligence saying companies are feeling the weight of lingering high interest rates. ...</p>\n\n<a href=\"https://seekingalpha.com/news/4104727-bankruptcy-filings-at-highest-in-a-year-with-as-high-interest-rates-bite-sp-global\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2210149790.SGD","symbol_name":"Natixis Thematics Subscription Economy R/A SGD-H","start_time":0,"source_url":"https://seekingalpha.com/news/4104727-bankruptcy-filings-at-highest-in-a-year-with-as-high-interest-rates-bite-sp-global","article_id":"2434358965","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/172726837/image_172726837.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2434358965","pubTimestamp":1715522400,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Bankruptcy filings by U.S. corporations sprang to the highest level in a year last month, with S&P Global Market Intelligence saying companies are feeling the weight of lingering high interest rates. ","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU2210149790.SGD":"Natixis Thematics Subscription Economy R/A SGD-H","LU1989764748.USD":"东方汇理环球颠覆性机遇A2 Acc","LU1804176565.USD":"EASTSPRING INV GLOBAL GROWTH EQUITY \"A\" (USD) ACC","BK4550":"红杉资本持仓","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","VOO":"Vanguard标普500ETF","JEPI.AU":"JPMORGAN EQ PREM INCOME ACTIVE ETF","IVV":"标普500指数ETF","SG9999014898.SGD":"United Global Quality Growth Fund Dis SGD","BK4504":"桥水持仓","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","SDIV":"Global X SuperDividend ETF","BK4112":"金融交易所和数据","LU0971096721.USD":"富达环球金融服务 A","BK4548":"巴美列捷福持仓","SPYD":"SPDR Portfolio S&P 500 High Dividend ETF","LU0354030511.USD":"ALLSPRING  U.S. LARGE CAP GROWTH \"I\" (USD) ACC","HYG":"债券指数ETF-iShares iBoxx高收益公司债","SG9999014880.SGD":"大华全球优质成长基金Acc SGD","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","JEPI":"JPMorgan Equity Premium Income ETF","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","IVV.AU":"ISHARES S&P 500 ETF/AUS","LU1989763005.USD":"东方汇理教育基金A2 Acc","BK4585":"ETF&股票定投概念","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU1989773731.SGD":"CPR Invest - Education A2 Acc SGD-H","FDN":"First Trust Dow Jones Internet I","SG9999001077.SGD":"United International Growth Fund SGD","BK4566":"资本集团","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU2095319765.USD":"Natixis Thematics Subscription Economy R/A USD","LU2210150020.SGD":"Natixis Thematics Subscription Economy R/A SGD","SPGI":"标普全球","BK4559":"巴菲特持仓"},"translate_title":"S&P全球公司破产申请数创下一年来最高水平","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VOO":1,"JEPI.AU":1,"JEPI":1,"IVV.AU":1,"IVV":1,"SPYD":1,"HYG":1,"SPGI":1,"SDIV":1,"FDN":0.9,"US10Y.BOND":0.9,"US7Y.BOND":0.9,"US6M.BOND":0.9,"US5Y.BOND":0.9,"US3Y.BOND":0.9,"US30Y.BOND":0.9,"US2Y.BOND":0.9,"US12M.BOND":0.9,"US912797FH58.BOND":0.6,"US912797FS14.BOND":0.6,"US912797GB79.BOND":0.6,"US912797GK78.BOND":0.6,"US912797GL51.BOND":0.6,"US912797GW17.BOND":0.6,"US912797HE00.BOND":0.6},"content_text":"Bankruptcy filings by U.S. corporations sprang to the highest level in a year last month, with S&P Global Market Intelligence saying companies are feeling the weight of lingering high interest rates.  In April there were 66 new bankruptcy filings, rising from an upwardly revised 61 filings in March. So far this year, companies in the Consumer Discretionary sector of the economy outpaced others, with eight fresh filings added in April. S&P Global said the pace of bankruptcies has picked up since the start of 2024 although the 210 filings logged through April is marginally lower than the 224 recorded over the same time period last year.  Three companies had more than $1B in liabilities when they filed for bankruptcy protection in April: clothing retailer Express (OTC:EXPRQ), Number Holdings, the parent company of 99 Cents Only Stores, and cloud computing company ConvergeOne Holdings Inc.  The Federal Reserve has yet to start cutting interest rates as policymakers assess inflation readings well above their 2% target. S&P Global Market Intelligence said no cuts by the Fed at the start of 2024 likely dashed expectations at financially struggling companies that they would find some relief from lowered borrowing rates. The benchmark rate is at 5.25%-5.5%.  Investors now see the Federal Open Market Committee making its first rate cut in September, according to the CME FedWatch tool. Stocks (SP500)(VOO)(IVV) were swept lower in April partially by worries the Fed would signal pending rate hikes, a notion Federal Reserve Chairman Jerome Powell pushed back on after the Fed's April meeting.  Last month, bankruptcy experts Epiq said total commercial Chapter 11 bankruptcies jumped 43% Y/Y in Q1 to 1,894. It said March marked 20 consecutive months that total, individual, and commercial bankruptcy filings logged monthly Y/Y increases. “Factors contributing to this trend are the higher cost of funds and interest rates, a reduction in consumer discretionary spending, higher housing costs, and a continued drawdown of excess savings,” Michael Hunter, vice president of Epiq AACER, said in a statement.  Here are some ETFs for those looking for high-yield debt investment strategies:   Global X SuperDividend ETF (SDIV) SPDR Portfolio S&P 500 High Dividend ETF (SPYD) JPMorgan Equity Premium Income ETF (JEPI) iShares iBoxx $ High Yield Corporate Bond ETF (HYG)  And Seeking Alpha Analyst Juan de la Hoz recently outlined investments in high-yielding BDCs.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.0","shortVersion":"4.24.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2434358965"}