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Factoid of the Day Tuesday, February 24, 2026
Moody's reported that its trailing 12-month global speculative-grade default rate stood at 4.3% at the end of January 2026 (preliminary results), up from 4.1% in December 2025. Its baseline scenario sees the global default rate declining to 2.3% in December 2026. For comparison, Moody's puts the global historical average default rate at 4.2%. The U.S. speculative-grade default rate stood at 4.9% in January. Moody's baseline scenario sees the U.S. default rate falling to 2.7% in December 2026.
 

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