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Russia, China property will push emerging market corporate default rate above 10%, JPMorgan says

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LONDON :Emerging markets' corporate default rates this year are expected to hit 10 per cent for the first time since the financial crisis, analysts at U.S. investment bank JPMorgan forecast in a note on Thursday. The bank raised its emerging markets corporate high yield default forecast to 10.7 per cent from

LONDON :Emerging markets' corporate default rates this year are expected to hit 10 per cent for the first time since the financial crisis, analysts at U.S. investment bank JPMorgan forecast in a note on Thursday.

"Notably, the main contributor is unsurprisingly the China property segment, where the default rate is expected to reach close to 40 per cent this year," added JPMorgan's Alisa Meyers. The bank added that Chinese developers defaulted on their entire bond stock even after extending short-term debt maturities.

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Russia, China property will push 2022 emerging market corporate default rate above 10% -JPMorganLONDON : Emerging markets corporate default rates this year are expected to hit 10 per cent for the first time since the financial crisis, analysts at U.S. investment bank JPMorgan forecast in a note on Thursday. The bank raised its emerging markets corporate high yield default forecast to 10.7 per cent f
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