The pile of troubled bonds and loans traded in U.S. markets saw its biggest weekly jump so far this year, led by distressed debt in the telecommunication and energy sectors.
- The total amount of traded distressed bonds and loans rose 11.2% week-over-week to about $63.6 billion as of Sept. 24, data compiled by Bloomberg show. The amount of traded distressed bonds rose 9.0% week-on-week, while distressed loans jumped 19.2%.
- That comes out to about $6.6 billion of newly distressed debt, the biggest weekly boost seen in a year that has mostly seen distress collapse from pandemic highs
- Companies in the ...