Debt 50c on the dollar - good luck finding any

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The interpret beneath shows the amount of corporate debt that trades at a price beneath 50 cents on the dollar. This is only how JPMorgan defines "distressed debt". What's awesome is how demand for immobile income creation nearly eliminated this spike in a matter of months. A year ago over $200 MM of corporate debt traded at discounts of 50% or more. Now there is almost none left.





Part of this exuberance in assign stems from dropping choice rates:




It's a bit of a self-fulfilling prophecy. Demand for immobile income creation provides opportunities for refinancing, generating liquidity, extending maturites, and reaction choice rates. Falling choice rates create more interest in credit/fixed income. Of instruction this impact crapper impact in reverse as well.


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