Where Is the U.S. Economy Headed? Follow the Money

Wall Street Journal, May 31, 2023-Matt Wirz (subscription)
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.