The Angels Are Freefalling: Q1 Saw Record Downgrades To Junk And The Real Pain Is Coming
April 04, 2020 at 00:28 AM EDT
Summing up across all the subcategories implies that a total of $555 billion worth of bonds (in notional value) would migrate from IG into HY over the next six months, in addition to the $149 billion that have already been downgraded year-to-date.