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High-yield defaults swell again as August slowdown was temporary blip

A slowdown in defaults in the U.S. high-yield, or “junk” bond market in August has turned out to be a temporary blip, with September’s missed payments ramping back up to the worrying pace seen earlier in the year.

There were just $1.7 billion of high-yield defaults in August, the slowest pace since January 2014 and a break after a six-month run in which year-on-year defaults trended higher, Fitch Ratings said Tuesday. The trailing 12-month default rate fell to 4.9% at the end of August from 5.1% at the end of July.

See: Deutsche Bank says 35-year party is over for bond bulls

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