Commercial real estate faces a tough 2024 as trillions of dollars in debt comes due and refinancing gets harder, according to Neil Callanan, corporate finance czar at Bloomberg News. Offices in financial centers are especially under pressure after banks tightened lending standards, Callanan tells Bloomberg senior editor James Crombie in the latest episode of the BI Credit Edge Podcast. He’s watching for delayed and canceled new projects and short selling of real estate companies as signals of distress. In addition, Jody Lurie, Bloomberg Intelligence credit analyst, weighs the outlook for leisure-sector bonds after a stellar year in 2023. Gains are expected at a slower pace, while some junk cruise operators are heading for investment grade, according to Lurie. Business travel will boost hotels, while car rental firms are more challenged, she adds.

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