(USSA NEWS) – The United States is facing an unprecedented rise in bankruptcy filings, reaching the fastest pace since 2009 under Barack Obama’s presidency. The Biden administration and the Federal Reserve have been grappling with the effects of inflation, but recent increases in bankruptcy filings suggest that they may soon have to admit defeat.
A concerning trend in the pace of large bankruptcy filings in the U.S. was highlighted by Zero Hedge a month ago. The first month of the year saw more than 20 US bankruptcies, the highest number for any January since 2010. According to Bloomberg data, the pace of large bankruptcy filings in the US continues to surge, with 39 large companies filing for bankruptcy by the end of February.
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Some of the most notable bankruptcies this year include Party City Holdco Inc, Serta Simmons Bedding LLC, and Genesis Global Holdco. The number of dollar-denominated corporate bonds and loans trading at distressed levels in the Americas has also risen, now standing at $237.2 billion.
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