Corporate Bond Default Rate Highest Since Great Depression
read the full story at http://globaleconomicanalysis.blogspot.com/2009/04/corporate-bond-default-rate-highest.html
I can cope with a 7% default rate at current YTMs
Before anyone again decries hybrids and their 7% default rate, remember that thay rank in preference to ordinary shares. Their default rate must be > 7%.
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