The U.S. high yield default rate (trailing 12-month average) falls to 2% in July from 2.2%...

|By:, SA News Editor

The U.S. high yield default rate (trailing 12-month average) falls to 2% in July from 2.2% previously, reports Fitch, which continues to expect the rate to move higher, perhaps hitting 3% by year's end. A survey of money managers reveals a gloomy outlook, with participants seeing feeble GDP growth and the consequent deterioration for the high-yield sector.