Faculty News
Professor Edward Altman's comments on high-yield bond default rates and the modern junk bond market are spotlighted
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Excerpt from Grant's Interest Rate Observer -- "Altman hazards no guess about when this granddaddy of benign cycles will turn malicious. 'When both macro and micro market forces point to an unmistakable negative outlook, I expect the next stressed credit cycle to produce default amounts that will be higher than any in the past due to the enourmous bond, bank and nonbank buildup, and the crisis may last longer than the previous one."
Read more in the Grant's Interest Rate Observer April 2 newsletter.
Read more in the Grant's Interest Rate Observer April 2 newsletter.