HIGHER FOR LONGER RATES COULD HIT U.S. CORPORATE BORROWERS: DEUSTSCHE BANK As Fed rate cuts keep getting priced farther out into the future, higher borrowing costs will bite U.S. companies, strategists at Deustsche Bank write. For now, "hopes for a soft landing are keeping the majority of defaults in the form of distressed exchanges, with higher recovery rates, " Deutsche writes. "But in a world of above-target inflation, severe policy uncertainty & rising sovereign term premia, the odds of a soft landing are falling." Deutsche thinks that among speculative-grade credits, defaults could hit as high as 5.5% around the middle of next year, which would mean the greatest issuer weighted spec-grade default rate since 2012