US bankruptcies soared 54% year-over-year in August.
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In effect, they were saying that companies feel pain in times of policy tightening, especially those with weaker balance sheets.
In any case, easy money measures have "kept so many zombie companies on life support," in Societe Generale's view.
"[T]he recent sharp rise in rates really could cause a shocking rise in bankruptcies, beyond all fears."
Persons:
Albert Edwards, Edwards, Ander Perez, Orive, Yannick Timmer, loosens
Organizations:
Societe Generale, Service, Reserve, Federal Reserve, Generale
Locations:
Wall, Silicon