Editor Dan Alderson and distressed debt reporter Will Macadam discuss the consequences of higher-for-longer, rate cuts by the Open Markets Committee, and rate trends in Europe and the UK. They explore the nervousness around rising costs, effects on market borrowers, company strategies like aggressive liability management, and the impact of fluctuating interest rates on defaults, negotiations, and borrower psychology. They also touch on power dynamics in borrowing markets, potential rate cuts, and economic speculations amidst distressed land and political changes.