5y default probabilities
February 05, 2010 at 08:39 AM EST
[Skip to the end] Once rates/prices start on a ‘parabolic’ path of credit deterioration it’s often a force stoppable only by a check. Not sure who/when writes the check, but odds are it will eventually happen one way or the other. In this case there’s a good chance it happens after a form of default. I don’t [...]