Private Credit Might Be Lousy for Longer
Also: War doesn’t seem to faze financiers, unless they’re in the conflict zone
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The spreading Iran war may be dominating the headlines, but it’s not generating existential jitters about the conventional banking business unless you’re in the conflict zone. We’ll leave it to others to comment on whether the relative calm is because conventional regulations have made US banks so strong that no one is worried about them. Instead, private credit lending is getting the spotlight, and not a very flattering one.