The stresses won't be systemic, but they'll be concentrated, Marc Rowan said.
Most of the recent "fallen angel" bonds were issued by Nissan or two regional U.S. banks.
There's a new wave of high-end luxury cruising operators targeting the wealthy.
Any trouble for leveraged loans would represent a key shift in this credit cycle.
Investment-grade bond funds also saw outflows with investors pulling $4.6 billion from mutual funds and exchange-traded funds.
Investors pulled $4.57 billion for the week ending Aug. 24.
Monthly credit performance was negative 58% of the time during the 1970s periods of weak growth and rising inflation.
Risk premiums for the bonds stand at levels not usually associated with recessions.
Issuers may be jumping at one of their last opportunities before the Fed raises rates.
Private-credit fundraising boomed to a record $195 billion last year.
Please log back in before proceeding.
There was an error logging in. Please try again.
Congrats! You are now logged in. Your exam is being submitted.
