Debt 50c on the dollar - good luck finding any

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The interpret below shows the turn of joint debt that trades at a toll below 50 cents on the dollar. This is only how JPMorgan defines "distressed debt". What's impressive is how demand for fixed income product nearly eliminated this spike in a concern of months. A year past over $200 MM of joint debt traded at discounts of 50% or more. Now there is nearly hour left.





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




It's a taste of a self-fulfilling prophecy. Demand for fixed income product provides opportunities for refinancing, generating liquidity, extending maturites, and reaction choice rates. Falling choice rates create more welfare in credit/fixed income. Of instruction this process crapper work in reverse as well.


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