Private Credit
The Sputtering Flywheel: US Private Credit Faces a ‘Reckoning’ as Distressed Exchanges and Liquidity Gaps Explode
NEW YORK — The decade-long "golden age" of the US private credit market is facing its most severe stress test to date. As of late March 2026, a confluence of stagnant interest rates, an "exit logjam" in private equity, and a sharp spike in borrower defaults has