With rising interest rates, corporate and personal borrower defaults are at an all-time high. The rising interest rates coupled with inflation has spurred a string of defaults for large corporations, including Bed, Bath & Beyond, Silicon Valley Bank, and Party City, amongst others. There are more defaults expected as the Federal Reserve stated they would be raising interest rates twice more before the end of the year.
Sources: Bankruptcy Filings Skyrocket as Economist Warns of Further Defaults