Junk credits sneak to safety
The corporate default rate in 2009 was a damp squib compared to the predicted onslaught of bankruptcies. Now that banks have rebuilt equity capital and established work-out groups, it is the booming high yield bond market that is pouring cold water on the pessimists. For the moment.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts