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2020-03-16

The largest and most risky pools of debt have shifted — from households and banks in the United States to corporations all over the world.

The level of debt in America’s corporate sector amounts to 75 percent of the country’s gross domestic product, breaking the previous record set in 2008. 

Among large American companies, debt burdens are precariously high in the auto, hospitality and transportation sectors — industries taking a direct hit from the coronavirus.


Hidden within the $16 trillion corporate debt market are many potential troublemakers, including the zombies. 

They are the natural spawn of a long period of record low interest rates, which has sent investors on a restless hunt for debt products that offer higher reward, with higher risk. 



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