These Charts Show the Extent of the Grim Credit Market Reversal

It took just two weeks for a decade of easy—sometimes anything-goes—credit markets to screech to a halt. Investors who were once willing to lend to even the riskiest companies suddenly pulled away. In response, central banks promised to flood markets with liquidity. Despite those efforts, market observers are expecting a surge of bankruptcies as an unprecedented corporate borrowing binge meets the realities of a post-pandemic economy.

Credit Markets Slam Shut