# Prof. Edward Altman's research on bond defaults is cited

1 Faculty News March 20, 2014 ![Forbes logo](/sites/default/files/styles/246w/public/assets/images/con_030508.jpg?itok=SId6k3bx)>

Excerpt from [Forbes](http://www.forbes.com/sites/investor/2014/03/20/energy-future-default-could-create-hyg-buy-opportunity/) -- "The TXU bonds in the BofA Merrill Lynch U.S. High Yield Index currently trade at an average price of $56. By comparison, last year’s defaulting bonds were quoted at an average price of $54 shortly after default, according to [Edward Altman](http://www.stern.nyu.edu/faculty/bio/edward-altman) of New York University."

[Read more](http://www.forbes.com/sites/investor/2014/03/20/energy-future-default-could-create-hyg-buy-opportunity/)