The summer of 2023 could see a potential global contagion event triggered by concerns around debt default risks. #Blackstone's recent default on a Nordic property-backed #CMBS worth $562 million has added to these fears. #Pakistan is also facing a potential default risk as it struggles to repay $7 billion in debt. Additionally, #MSCI has reported that the probability of a catastrophic US #debtdefault has more than tripled since the start of the year. These developments have put #markets on edge as the possibility of a widespread economic shock looms large.  

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