Understanding aggregate default rates of high yield bonds

Helwege, Jean; Kleiman, Paul

Journal Article

Understanding aggregate default rates of high yield bonds

Abstract: The New York-New Jersey region's hard-earned recovery in employment is being overshadowed by ongoing job losses in certain sectors and the prospect of moderating growth in the United States as a whole. Fortunately, several positive trends are bolstering the region's employment picture. Strength in the services sector, a falloff in restructuring, and gains in income point to continuing--though modest--regional job growth in 1996.

Keywords: Bonds;