Well, as predicted, here come the corporate insolvencies. "No sign of recession" some still say. Deary me. Talk about waiting for a car to hit you to know that it hurts. I have been saying for a few weeks now that interest rates will keep shooting up, and eventually, it is not mortgage borrowers we need to worry about, but the corporate markets.

https://www.ccmb.co.uk/showthread.ph...interest+rates

https://www.ccmb.co.uk/showthread.ph...=1#post5431826

Commercial real estate. Small companies going bust. Some big companies going bust. Shares. Private equity's bottom being smacked. Corporate credit being hit. Well, a few days ago, research from a major credit agency confirmed that in the US they have just recorded the worst amount of annual bankruptcies since the Great Financial Crisis.

https://www.spglobal.com/marketintel...-2010-76444770

Where the US goes, we will soon follow. And UK fixed rate mortgages now hitting 7%. I suspect the markets this week will continue their trajectory down, as the miserable news continues. Europe already in recession, US and UK soon following the dog lead.

Arse on the floor. Nipples pointing North.