This comes out of the S&P just now...

Discussion in 'Economics' started by Martinghoul, Mar 20, 2009.

  1. S&P : CORPORATE DEFAULTS +200% YoY....SUMMARY YR TO DATE:

    This week saw 7 defaults (2nd highest after 8 in wk of Feb 2)

    Total : 47 defaults YTD (almost 3 x number in 2008 same period)
    - 31 in US (66%)
    - 8 in Emerg mkts (17%)
    - 5 in Australia, Canada, Japan, and New Zealand (11%)
    - 3 in EU (6%)

    So far this year, 43% (20 issuers) were due to missed interest payments, 36% (17 issuers) were bankruptcy related, 15% (7 issuers) were distressed exchange related & the remaining 6% (3 issuers) were due to other reasons.
     
  2. Corporate bond market tsunami is coming.