JPMorgan: U.S. Deep Subprime Loans Rise to Post-Pandemic High, Tech Industry Hit Hardest

Zhito Finance APP has learned that JPMorgan strategists wrote on Tuesday that the tail of deep distress in the leveraged loan market has risen to its highest level since the early days of the pandemic, with technology being the single industry under the greatest pressure. Specifically, the volume of loans trading below 60% of face value (i.e., deep distress levels) rose from $40 billion a year ago to $65 billion, the highest since March 2020.