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- Barrons.com•11 hours ago
Three corporate defaults in the past week, two metals companies and one telecom firm, brought the total number of defaults around the world to 130. Diane Vazza, head of S&P Global Fixed Income Research says: The default tally is 60% higher than the count at this time in 2015 and has surpassed the total number of defaults recorded in full-year 2015, 113 defaults. Vazza notes: As of Aug. 31, 2016, the global speculative-grade default rate for the energy and natural resources sector was 17.9%--more than seven times higher than the default rate of all other sectors.
With crude oil stabilizing in the mid-$40s, Fitch Ratings is cutting its forecast for defaults pretty dramatically. Improving high yield market conditions also help out. On Thursday Fitch announced that it ...
WASHINGTON, DC - JUNE 14: SEC Chairman Mary Jo White testifies during a Senate Banking, Housing and Urban Affairs Committee hearing on Capitol Hill, June 14, 2016 in Washington, DC. (Photo by Mark Wilson/Getty Images) Cheap bonds are hard to find in a world dominated by negative short-term interest rates. Record-low