Business

When we last looked at the soaring default rate among junk bonds issuers just two weeks ago, we noted that the $14 billion in defaults had already pushed the April total to the highest since 2014, while the first quarter was the fifth highest quarterly default total on record.

But it was the stark deterioration within the energy space that we said would promptly push high yield bond defaults within the troubled sector to hit all time highs in very short notice.

China data weakens, Puerto Rico defaults, Japan falls, crude drops, another E&P company defaults, failed M&A deal, US macro data dumps... and stocks surge...

Submitted by Lance Roberts via RealInvestmentAdvice.com,

According to the World Economic Forum, the United States has achieved a new TOP 10 ranking. Tell us what we’ve won Bob:

“Coming in at #10 – the United States, at 104%, gets nothing but the privilege of being on the list of countries with the highest debt/GDP ratios.”

Yesterday, the ECB sent Benoit Coeure out to explain to the uneducated masses that the concern over negative interest rates is overdone because not everyone is saving money.

"Sell in May and go away" -- the old equity-market adage still holds water, but, as Bloomberg's Mark Cudmore explains, it's important to note how the seasonals have evolved since the great financial crisis.

In its original usage, the motto implied it’s advisable to cash out of equities at the end of May and enjoy a long summer of relaxation before returning to invest again. It wasn’t just a flippant saying; the facts tallied with the intuition.