Bankruptcy Buildup

While bankruptcies were low in 2021 and very low in 2022, they are now meaningfully rising. Through April, U.S. bankruptcies, are at their highest level since 2010, and the immediate aftermath of the Great Recession. The rise is the inevitable result of higher interest rates, the failure of some regional banks, rising office building vacancy rates, progressively tighter lending conditions, increasingly skittish bond buyers, and a weak IPO market.