On junk.

• Author: Rees, Matthew
• Position: World economy and debt market - Brief article

"The world economy saw no defaults in junk-rated debt last month--the first time in ten years--in another sign of the strength of the credit markets. Moody's Investors Service, the ratings agency, said February was the first month without defaults since December 1997. The agency also said that only 1.6 percent of the companies tracked globally in speculative grade defaulted...