Current Conditions in Global Credit Markets - NYU Stern School of ...
Current Conditions in Global Credit Markets - NYU Stern School of ...
Current Conditions in Global Credit Markets - NYU Stern School of ...
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Historical Default Rates and Recession<br />
Periods <strong>in</strong> the U.S.<br />
14.0%<br />
HIGH YIELD BOND MARKET 1972 – 2006<br />
12.0%<br />
10.0%<br />
8.0%<br />
6.0%<br />
4.0%<br />
2.0%<br />
0.0%<br />
Periods <strong>of</strong> Recession: 11/73 - 3/75, 1/80 - 7/80, 7/81 - 11/82, 7/90 - 3/91, 4/01 – 12/01<br />
72<br />
74<br />
76<br />
78<br />
80<br />
82<br />
84<br />
86<br />
88<br />
90<br />
92<br />
94<br />
96<br />
98<br />
00<br />
02<br />
04<br />
06<br />
Source: E. Altman (<strong>NYU</strong> Salomon Center) & National Bureau <strong>of</strong> Economic Research<br />
13
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