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On Thursday evening Moody's downgraded the Thornburg Mortgage because of multiple defaults on financing agreements.
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And multiple defaults would almost certainly entail the question of whether defaulters might best leave the euro.
Mohamed el-Erian, the bond wizard from PIMCO, has described the effects of a default as amounting to "cascading failures" leading to "multiple defaults".
With faith in the medicine lost, multiple defaults would mean multiple haircuts, sending bond markets into a tailspin.
This will involve opening its purse to avoid multiple defaults and to allow the fiscal spending necessary to revitalize Greece and the rest of Europe.
*Can exceed 100% because of multiple answers.
Over the next six months the sector had a total return of -12% because of rising defaults.
Likewise, we implemented the parallelization of multiple BLAT processes in EGN (default value = 2 in egn.config).
For instance, one default or multiple issuers' defaults will trigger the credit event, or a set of assets is used to determine the credit event or other extreme events.
Because of cross-default provisions, default on the IANs would make other Soviet-era debt payable at once.
The credit default market has ballooned recently, at least in part because of low default rates on corporate bonds.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com