The high yield default rate through April is running well ahead of the same period in 2011,...

|By:, SA News Editor

The high yield default rate through April is running well ahead of the same period in 2011, reports Fitch, with the amount of bonds affected totaling $9.2B vs. $1.7B last year. It's likely to get worse in May as Fitch estimates a default rate of 2% this month, the highest level since October 2010. (full report, .pdf)