Global corporate defaults doubled from March to April, S&P finds

FILE PHOTO: A man carries an umbrella during a morning snow fall on Wall St. in New York's financial district - Global corporate debt defaults more than doubled in April from March to their highest monthly tally since October 2020, according to a report from S&P Global Ratings.

In the U.S., 56% of April's total publicly rated defaults came from bankruptcies, while the remainder came from distressed exchanges.However, distressed exchanges have been the primary driver of defaults globally this year, S&P noted. They accounted for 44% of defaults in April and 51% of defaults year-to-date, leading to 28 companies' defaults.

Though the U.S. led the world in the number of defaults year-to-date, Europe's year-to-date default tally of 15 is at the region's highest level since 2008, S&P noted.Canada to convene meeting to discuss money laundering allegations against TD Bank Inflation falling further from here in the near term is a "pipe dream" and rate cuts will continue to be pushed out, Stifel strategists said.These TSX stocks have done well in the last year, and the future also looks bright -- especially if you buy during the continued dip. The post 3 Bullish TSX Stocks on an Upward Trend appeared first on The Motley Fool Canada.

Source: Loan Digest (loandigest.net)

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