Risky corporate borrowers shut out of bond market since Trump’s tariff blitz

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America’s risky corporate borrowers have been shut out of the bond market since Donald Trump’s tariff blitz, in a freeze that is reverberating across Wall Street and which threatens a tentative rebound in dealmaking.

Lowly-rated companies have failed to sell any debt in the $1.4tn US high-yield bond market since Trump unleashed market turmoil and raised fears of a US…