According to @KobeissiLetter, 14.5% of US technology sector loans are now distressed, the highest share since the 2022 bear market. According to @KobeissiLetter, the tech bond distressed ratio has reached 9.5%, the highest since Q4 2023. According to @KobeissiLetter, these readings indicate rising stress across tech loans and bonds, highlighting elevated credit risk in the sector.

According to @business, Sonder, an online rental company focused on boutique apartments, is pursuing an out-of-court agreement with creditors in a last-ditch effort to avoid a bankruptcy filing, citing unnamed sources. source: Bloomberg The report did not disclose deal terms or a timeline. source: Bloomberg The report did not mention any implications for cryptocurrency markets. source: Bloomberg