Fuel for a junk rally? The global speculative-grade default rate declined to 12.5%, its first...

|By:, SA News Editor

Fuel for a junk rally? The global speculative-grade default rate declined to 12.5%, its first drop in two years, Moody's says. The rate was at 1.1% in January 2008. Time will tell if it's a credit-cycle peak, but Moody's expects the rate to fall sharply to 3.3% by year-end.