# Professor Edward Altman believes increased volatility in 2016 could lead to another recession, based on his Z-score research

1 Faculty News January 25, 2016 ![Bloomberg logo](/sites/default/files/styles/246w/public/assets/images/bloomberg192x144.jpg?itok=yV529lwz)>

Excerpt from [Bloomberg](http://www.bloomberg.com/news/articles/2016-01-25/nyu-s-altman-says-u-s-defaults-to-climb-recession-more-likely) -- "'The high-yield markets have grown so big, you don’t need to have a large default rate to have tons of debt in trouble,' said [Altman](http://www.stern.nyu.edu/faculty/bio/edward-altman). At a 2.8 percent rate, as much as $45 billion of U.S. debt defaulted last year. This year, he expects Chapter 11 filings to rise led by companies in energy, coal and metals and mining."

[Read more](http://www.bloomberg.com/news/articles/2016-01-25/nyu-s-altman-says-u-s-defaults-to-climb-recession-more-likely)