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The markets had anticipated a high probability of default for months, he said.
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And I don't want to get into detail here, but the notion is, when credit spreads start getting high, it implies a higher probability of default.
It can be seen that the price is in general an increasing function of the interest and hazard rates, since higher hazard rates mean higher probability of default.
As for how Morgan values these assets, he said that since 2010 the bank has routinely reserved for the higher probability of defaults on them, assuming an average loss rate of 60 percent on high-risk second liens.
These patients had higher probabilities of default, failure, and having subsequent TB episodes.
As a result, we're looking at many drama-filled months, with a high probability of government shutdowns and even debt defaults.
The default coding potential cutoff of > 0.39 was used to infer high probability of being a coding transcript.
But there is a high probability of more hot air.
Proposals required evidence of a high probability of success.
Doing so creates a high probability of re-offence.
High probability of telling the truth.
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