Last week I reported on a report from law firm Haynes and Boone LP, which detailed the rising number of defaults in the North American energy sector.
According to the report, the total value of North American oil patch bankruptcies since the beginning of 2015 now stands at $66.5 billion and the number of companies filing for bankruptcy protection has only accelerated in recent months.
US Consumer Defaults Are On The Rise
However, it’s not just the energy patch that is feeling the heat. According to credit rating agency S&P, the total number of global corporate bond defaults hit 100 at the beginning of July, up 50% year-on-year, bringing the total notional value of defaulted debt to $154 billion for the...
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