Defaults are expected to face prolonged rise
Source: Debtwire Par
Bubbling up: defaults continue year-long rise
Default rates have been increasing steadily month-on-month (MoM) from a low in February 2022 of only 0.4% to over 2% of the loan universe as of March 2023. Bond rates have similarly been on the rise over the same period, currently sitting at 1.8% and up from a low of 0.3% in February 2022, according to data from Fitch Ratings.