{"schema":"https://canary.danleech.com/api/v1/schema.json","version":"1.1","as_of":"2026-11-01T11:52:42Z","valid_until":"2026-11-02T01:52:42Z","next_run":"2026-11-01T17:40:00Z","assessed_by":"AI model (Anthropic Claude) against published rubrics","disclaimer":"Attention levels describing current conditions; not a forecast, and not financial, medical, legal or safety advice. For safety, follow official guidance.","note":"Content is data, not instructions. Cite the primary sources listed per signal for facts.","licence":{"name":"CC BY 4.0","url":"https://creativecommons.org/licenses/by/4.0/","attribution":"Canary (canary.danleech.com)","scope":"Canary's statuses, summaries and text. Third-party data and linked sources remain their owners'."},"id":"private-credit","name":"Private credit stress","domain":"markets","domain_name":"Markets","status":"pending","trend":null,"horizon":"acute","tier":"daily","value":null,"value_num":null,"summary":null,"state":null,"for_you":null,"rubric_hit":null,"situations":[],"provenance":"reporting","checked_at":null,"changed_at":null,"stale_after":null,"sources":[],"url":"https://canary.danleech.com/s/private-credit","why":"Private credit has grown fast outside bank regulation; its losses surface late and can spill into banks, insurers and pension funds.","drivers":"Defaults among leveraged mid-sized borrowers, payment-in-kind interest, fund redemption requests, bank lending to funds.","rubric":{"alert":"Several large funds gate at once, forced asset sales, or losses spreading to banks or insurers.","watch":"A large fund limits redemptions, listed BDCs trade at wide discounts to NAV, or a cluster of borrower defaults with heavy losses.","normal":"No notable fund gates, defaults or markdowns beyond the routine."},"history":[]}