Companies are carrying a $9 trillion debt load, posing a potential threat should rates continue to rise and the economy weaken.
Most Wall Street bond experts think the issue is contained for the next 12 to 18 months, though one says the market's "angst" is "not misplaced."
A principal worry is over companies teetering between investment grade and junk that could cause market trouble should their standing deteriorate.
Jeff Cox | @JeffCoxCNBCcom
Published 7:21 AM ET Wed, 21 Nov 2018 Updated 1:17 PM ET Wed, 21 Nov 2018
CNBC.com
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At first glance, it looks like a $9 trillion time bomb is ready to detonate, a corporate debt load that has escalated thanks to easy borrowing terms and a seemingly endless thirst from investors.
On Wall Street, though, hopes are fairly high that it's a manageable problem, at least for the next year or two.
The resolution is critical for financial markets under fire. Stocks are floundering, credit spreads are blowing out and concern is building that a combination of higher interest rates on all that debt will begin to weigh meaningfully on corporate profit margins.