Struggling under the weight of interest rates, highly-levered assets within private equity and real estate are promising distressed investors some of the best opportunities in more than a decade, according to Howard Marks, co-chairman and co-founder of Oaktree Capital Management.

A $15.4 billion wave of debt is set to sweep over leveraged finance markets in September as Wall Street banks rush to lure in yield-hungry investors.

Surging interest rates have made the coupons look meager, the Federal Reserve is shrinking its exposure, and the regional banking crisis left the regulator with about $100 billion of the bonds to sell.

One of the most lucrative money-making machines in the world of finance is all clogged up, threatening a year of pain for Wall Street banks and private-equity barons as a decade-long deal boom goes bust.

Audits are a risk that all should heed, but especially the lowest-income earners. The IRS looked at their returns at a rate five times greater than all other taxpayers in the 2021 fiscal year, according to data from the Transactional Records Access Clearinghouse at Syracuse University.