BREAKING: Large bankruptcies in the US hit the second-highest level in 14 years
The number of bankruptcy filings rose to 512 year-to-date in September, just 6 below the COVID CRISIS
The number of US bankruptcy filings of big companies (see the footnote) reached 512 in 2024 through September, the 2nd largest 2010 - only 6 below 2020.
In September and August 59 and 63 bankruptcies were recorded, respectively.
Among different sectors, 81 consumer discretionary firms filed for bankruptcy year-to-date, followed by 60 in industrials and 48 in healthcare.
This is another point of weakness in the world’s largest economy, particularly in the consumer sector. At this point, however, it has to be emphasized that financial markets almost never react to such news. These days the most important thing for investors is the US labor market.
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and the market doesn’t give a shit!