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The Private Credit Crisis Just Went Public...
Everyone thinks the private-credit “crisis” is contained.
Bank officials say the financial system remains resilient. Central bankers barely mention private credit. And when the mainstream media covers the subject, the story is usually reduced to investor withdrawals from a handful of isolated funds.
And then we’re told the underlying loans are still performing, so there’s nothing broader to worry about.
But that story is *badly* out of date.
Eurodollar University's Money & Macro Analysis
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