This page has been archived and commenting is disabled.
Corporate Bond Downgrades Outpace Upgrades For First Time Since Q1 2010
We have been discussing the indications being sent by the credit markets and the turn in the credit cycle that appeared to be developing. Just to add to the pile of cyclical turn indicators, we note that the number of corporate bonds receiving S&P credit rating downgrades exceeded upgrades this quarter for the first time since Q1 2010. Obviously, this is led by the high-yield names but the withdrawal of liquidity often rapidly pushes crossover names closer to the edge and inevitably leads up the capital structure and quality spectrum.
Chart: Bloomberg
Moody's ratings upgrade/downgrade ratio has also shifted below 1 with 191 downgrades versus 107 upgrades with 17 fallen angels versus 11 rising stars. This is also the lowest ratio since Q1 2010.
Hat-tip: @andrewyorks
»
- 5618 reads
- Printer-friendly version
- Send to friend
- advertisements -
You're just asking for OT2 aren't you?
Great, theyre left with something no one even understands, hand holding the short end to boost the long end yield for a roll-over?
Americans understand cheese burgers and skanks! Everything else is just noise.
I love the ( VIX) a 10 handle move = 2% ?
String meets Push so says the great Bernank!
BAC now talking about ditching 40,000 jobs. Draconian. But that's the sort of thing the Federal government should be doing.
Can anyone provide a link to the most recent up/downgrades, I have a large portfolio of Hi Yield and would appreciate a chance to review the info. If so, thanks in advance
Sure, but it'll cost ya 2 + 20.
I will fax you a check, and offer 2 & 10
Touché! I'm sure BAC will take a faxed check. Fairly sure they'll take almost anything, these days...
Theyre stuck here, any further printing accelerates everything downwards. Bernank now reduced to designing a fancier carrot on a stick.
What will he say, that there will be another FOMC meeting in 2013 so hold tite? Nonsense.
Wow them stawkies sure are accelerating downwards...have a nice 9-11 weekend folks!
transitory.
How can you down /grade @ 1 %?
Eat today pay tomorrow
Anyone know a good source to get daily rating upgrades and downgrades if you don't have access to a bloomberg terminal?
Not according to that wonderful jolly old man from Omaha, Warren the phony. All is well, no double dip, stocks are cheap! lol!!!