More junk-rated US companies to default in Q1, Moody’s forecasts
By Matt Tracy (Reuters) – Defaults by U.S. companies with low junk credit ratings are likely to rise further in the first quarter of 2024, …
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Ethiopia becomes Africa’s latest sovereign default
LONDON (Reuters) – Ethiopia became Africa’s third default in as many years on Tuesday after it failed to make a $33 million “coupon” payment on …
Fitch downgrades Wanda Commercial to “restricted default”, then upgrades to “CC”
HONG KONG (Reuters) – Fitch Ratings downgraded Dalian Wanda Commercial Management Group to “restricted default (RD)” from “C” on completion of the distressed debt exchange, …
Court Grants Default Judgment against Tampa-Area Tax Return Preparer
The District Court for the Middle District of Florida permanently enjoined Tyrone Johnson and TJ Professional Services LLC yesterday from preparing federal income tax returns …
China’s Country Garden may avoid yuan bond default after deal – Bloomberg News
(Reuters) – China’s Country Garden Holdings is likely to avoid its first default on yuan bonds after most holders of a local note agreed not …
China’s Powerlong Real Estate warns of debt default risk
(Reuters) – Powerlong Real Estate said on Wednesday its cash on hand and bank deposits would not be enough to cover existing and future debt, …
Israel’s First International Bank Q3 profit dips, default provision jumps
By Steven Scheer JERUSALEM (Reuters) – First International Bank of Israel (FIBI) reported a dip in third-quarter net profit, hurt by a quadrupling of its …
Israel shekel sinks to lowest since 2016, default insurances soars
LONDON (Reuters) – Israel’s shekel hit its weakest level since early 2016 and the cost of insuring the country’s sovereign debt against default soared on …
Borrowing pressures to push European default rates to 3.75%-5.5% – S&P Global
By Marc Jones LONDON (Reuters) -Higher interest rates and a near stalling of Europe’s economy will put pressure on the credit ratings of the region’s …
Napolitano, president who helped save Italy from possible default, dies at 98
By Steve Scherer ROME (Reuters) – Giorgio Napolitano, who died on Friday aged 98, was one of modern Italy’s most important presidents as he steered …
JPMorgan ramps up EM default rate forecast amid China property woes
By Marc Jones LONDON (Reuters) -JPMorgan ramped up its 2023 global emerging market corporate high yield (HY) default rate forecast to 9.7% from 6% on …
Analysis-China holds the key to avoiding Argentina’s IMF default. The price tag is unknown
By Jorgelina do Rosario and Karin Strohecker LONDON (Reuters) – A helping hand from China saw Argentina avert a default with the International Monetary Fund …
Banks stocks gain after US Congress averts historic debt default
(Reuters) – Shares of U.S. banks rose on Friday after the U.S. Senate on Thursday passed bipartisan legislation that lifted the government’s $31.4 trillion debt …
Japan’s Nikkei closes at 32-year high as US default fears ease
By Rocky Swift TOKYO (Reuters) – Japanese stocks rose on Friday, with the benchmark Nikkei index closing at a three-decade high, after U.S. lawmakers voted …
Cost of insuring vs US default increases before vote on debt ceiling bill
NEW YORK (Reuters) – The cost of insuring exposure to a U.S. debt default rose on Wednesday, with investors focused on a debt ceiling vote …
US default probability at lowest since January – MSCI
NEW YORK (Reuters) – The probability of a U.S. default has declined to its lowest since January, according to MSCI estimates, as a debt ceiling …
Default wave imminent, will peak in 2024- Deutsche Bank
LONDON (Reuters) – A wave of debt defaults by companies in the United States and Europe is imminent, due in part to the fastest monetary …
Yellen Shifts Debt Default Date To June 5
Yellen Shifts Debt Default Date To June 5 Arjun Singh on May 26, 2023 Treasury Secretary Janet Yellen has extended the probable date that the …
U.S. credit default swaps fall as debt ceiling talks progress
(Reuters) – The cost of insuring exposure to U.S. government debt dropped on Friday as U.S. President Joe Biden and top congressional Republican Kevin McCarthy …
Analysis-Wall Street prepares for Treasuries mess as default looms
By Gertrude Chavez-Dreyfuss, Saeed Azhar and Davide Barbuscia NEW YORK (Reuters) – Anxiety is increasing in parts of Wall Street that rely on Treasury securities …
US debt default would impact military readiness, morale: top US general
WASHINGTON (Reuters) – A debt default would deal significant, unambiguous damage to US national security, negatively impacting military readiness, morale and its capabilities, the top …
Marketmind: U.S. default risk clouds Korea, Indonesia rate decisions
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. The central banks of South Korea and Indonesia …
Marketmind: RBNZ to hike rates, U.S. default ticks closer
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. An expected interest rate hike in New Zealand …
US Treasury asks federal agencies for payments clarity as debt ceiling default looms
WASHINGTON (Reuters) – The U.S. Treasury said on Tuesday it is asking other federal agencies for greater clarity and communication on the payments they expect …
Yellen warns US default could trigger recession, ‘break’ financial markets
WASHINGTON (Reuters) – Treasury Secretary Janet Yellen on Tuesday warned that a U.S. default on government debt would leave millions of Americans without income payments, …
Three in four Americans worry debt-ceiling default could hurt them: Reuters/Ipsos poll
By Andy Sullivan WASHINGTON (Reuters) – Americans are worried about the prospect of the U.S. government defaulting if Congress fails to raise the debt ceiling, …
‘They Want A Default’: McCarthy Says House GOP Making Little Progress With Biden On Debt Ceiling
‘They Want A Default’: McCarthy Says House GOP Making Little Progress With Biden On Debt Ceiling Arjun Singh on May 15, 2023 House Speaker Kevin …
Cost of insuring against U.S. default rises to highest since 2009
LONDON (Reuters) – The cost of insuring against a U.S. default rose to its highest since early 2009 on Thursday, in the latest sign of …
Trump plays down consequences of a US default: ‘Could be maybe nothing’
By Tim Reid (Reuters) – Republican former President Donald Trump on Wednesday played down the severity of a potential U.S. government default, saying the consequences …
‘A False Dilemma’: GOP Presidential Hopefuls Weigh In On The Debt Ceiling Debate As Default Looms
‘A False Dilemma’: GOP Presidential Hopefuls Weigh In On The Debt Ceiling Debate As Default Looms Mary Lou Masters on May 10, 2023 As debt …
S&P says El Salvador’s debt exchange constituted default
(Reuters) – Ratings agency S&P on Tuesday said a pension debt exchange by El Salvador in April constituted a default event, but added that the …
Would Fed’s Powell go full ‘loathsome’ to buffer against a debt default?
By Howard Schneider WASHINGTON (Reuters) – Federal Reserve Chair Jerome Powell, asked on Wednesday about what the Fed would do in the event of a …
U.S. Treasury official says June 1 default scenario is ‘best estimate’ but variable
WASHINGTON (Reuters) – The U.S. Treasury’s estimate that it could run short of cash to satisfy all U.S. payment obligations as early as June 1 …
S&P cuts First Republic’s credit rating, says default a ‘virtual certainty’
(Reuters) – S&P Global on Tuesday slashed First Republic Bank’s credit rating deeper into junk territory after California banking regulators seized the U.S. lender and …
Explainer: How the Fed might act in a US default
(Reuters) – Federal Reserve Chair Jerome Powell at his press conference on Wednesday is likely to get asked – again – what contingencies he plans …
Oil slumps 5% to five-week low amid US debt default fears
By Scott DiSavino NEW YORK (Reuters) -Oil prices sank about 5% to a five-week low on Tuesday on concerns about the economy as U.S. politicians …
US debt ceiling technical default seen at 2%-3%, says Summers
By Davide Barbuscia CHICAGO (Reuters) – Former U.S. Treasury Secretary Lawrence Summers said the odds that the U.S. government could face a technical debt default …
U.S. five-year credit default swaps hit new 2011 high
LONDON (Reuters) – The cost of insuring exposure to United States sovereign debt rose to its highest since 2011 on Wednesday, driven up by unease …
US 5-year credit default swaps rise to highest since 2011
(Reuters) – The cost of insuring exposure to United States sovereign debt rose to the highest level since 2011 on Friday, over market jitters that …
JPMorgan sees “non-trivial risk” of a technical default on U.S. Treasuries as debt ceiling looms
LONDON (Reuters) – JPMorgan expects the U.S. debt ceiling to become an issue as early as next month with the Wall Street bank ascribing a …
ECB’s Centeno says mortgage default risk in Portugal is low
By Sergio Goncalves LISBON (Reuters) – The risk of default on mortgages in Portugal is low despite the steep rise in interest rates by the …
S&P sees corp high-yield default rate doubling by year end
(Reuters) – S&P Global Ratings Credit Research & Insights said on Wednesday that it expects the U.S. trailing 12-month speculative-grade corporate default rate to reach …
Argentina swaps $21.7 billion in domestic debt, dimming default risk
BUENOS AIRES (Reuters) – Argentina has swapped 4.34 trillion pesos ($21.66 billion) in domestic debt, amounting to around 64% of loans due to mature through …
U.S. default would cause job, benefits losses, Yellen tells counties
By David Lawder WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen warned county leaders on Tuesday that their residents could lose jobs and federal benefit …
Fed’s Powell: No one should assume Fed can protect economy in debt default
(Reuters) – Congress lifting the debt ceiling is the “only way forward” to allow the federal government to meet its obligations and no one should …
U.S. corporate default rate to rise in 2023 -Moody’s
By Matt Tracy (Reuters) – Moody’s Investors Service expects the U.S. corporate debt default rate to accelerate to nearly 6% by year-end from 2% in …
White House: Americans should expect Congress to make sure debt default is avoided
ABOARD AIR FORCE ONE (Reuters) – The White House said Americans should expect Congress to make sure a looming debt default is avoided after the …
Kenya will not default on its debt payments -President Ruto
NAIROBI (Reuters) – Kenya will not default on its debt and plans to ramp up tax collection in the next two years, President William Ruto …
S&P warns of possible trebling of U.S., European default rates
LONDON (Reuters) – Credit rating firm S&P Global has warned that speculative-grade U.S. and European corporate default rates are likely to double and might even …
Credit default ratio in Brazil hits highest in almost 4 years
BRASILIA (Reuters) – A broad measure of Brazilian consumer and business credit default ratios rose in October to its highest level in almost four years, …