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To: jjetstream who wrote (102500)5/15/2001 11:58:16 PM
From: LLCF  Respond to of 436258
 
<Moody's sees 10 pct junk bond default rate by
2002>

This is far too unbullish... it should read: "Moody's sees junk bond default rate topping out at 10% soon"

dak



To: jjetstream who wrote (102500)5/16/2001 1:35:51 AM
From: Perspective  Read Replies (2) | Respond to of 436258
 
Bonds rated ``Caa,'' Moody's lowest rating other than default, now make up about 35 percent of the
market, up from 13.6 percent in 1999, said Moody's Chief Economist John Lonski.


Holy sh&t! I had no idea - fully 1/3 of junk bond issuance is a single step from default!

BC