As regulators continue to worry about big and small banks, a lot of midsized companies are turning to private credit for loans. These loans are issued at floating interest rates, can be hard to value, and are one of the fastest growing asset classes. Today on the show, we ask: What could go wrong? We also go long the soldier who crossed into North Korea, and short the Economics Job Market Rumors forum. Links:No, private credit markets aren’t really that bigFor a free 90-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedofferFollow Ethan Wu (@ethanywu) and Katie Martin (@katie_martin_fx) on Twitter. You can email Ethan at [email protected] a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

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“What did the council decide on item 42?” — answered with the speaker and the moment.