Exact(6)
"People believe there is a low chance the default happens," Mr. Takata said in Tokyo.
If last-ditch talks beginning Saturday fail, they will have to take responsibility if the unimaginable — a government default — happens in 10 days and the checks stop going out.
The prices for credit default swaps, financial instruments that pay investors in the event that a default happens, imply just a 0.05 percent chance, or 1-in-2,000, of a default occurring within the next year, according to The Wall Street Journal.
When it comes to the purchasing power of an investor's money, what does it matter if the loss comes in the form of a formal default or erosion in real terms?The answer to that conundrum may be that default happens suddenly, whereas inflation and depreciation are slower, giving investors more time to adjust by demanding higher interest rates to compensate for their losses.
The first default happens after maturity.
When you use Chrome to go to a page in any language other than English (or whatever your default happens to be) the software notices as much and asks if you'd like the page translated.
Similar(54)
The default happened after a last-gasp refinancing plan fell at the final hurdle, according to local media.
In that case, Mr. Obama will either let default happen or find some way of defying the blackmailers, trading a financial crisis for a constitutional crisis.
As I understand it, countries that defaulted in the past were almost always downgraded well before the default happened; but in all such cases, the markets were already signalling big trouble before the rating agencies moved.
Some investors entered swaps on Greece as a way of effectively insuring themselves against losses on their Greek bonds, while others used them as a way to bet on a default happening.
You could be forgiven for thinking that a default happened the moment the bond failed to do what it said on the label – ie pay a specified coupon and become redeemable at a fixed point in the future.
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