The Wall Street JournalThe Wall Street Journal

Where is the U.S. economy headed? Follow the money

By Matt Wirz

31 May 2023 · 3 min read

informed Summary

  1. Economists have been predicting a recession for months, and it still hasn’t arrived. However, the debt market is showing signs of strain.

The stock market is near a one-year high, giving many investors comfort. But down below, debt markets are creaking under the strain of rising interest rates.

Lending conditions for companies, consumers and real-estate developers tightened this spring to levels not seen since the height of the Covid pandemic, an analysis of public and private lending data by The Wall Street Journal shows.

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