CorporateDefaults, from Savvysoft, quantifies market
sentiment regarding a company's default risk. When
public companies get into financial trouble, rumors fly
and the market usually has more information than that
company's latest balance sheets or press releases. As
Warren Buffet says, "The Market Knows." Wouldn't it be
great if there was a way to capture what the market
knows? Now there is: it's "Market-Implied Default
Probabilities" from CorporateDefaults.
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Bond traders buy or sell a company's bonds based on market
rumors. These rumors are impounded into observable bond prices.
CorporateDefaults uses the latest corporate bond
prices and their spreads to the Treasury market. With
that information, CorporateDefaults backs out the
probability of default implied by the market. Termed
"Market-Implied Default Probabilities," these
default probabilites quantify the market's sentiment
regarding a company's default risk.
Savvysoft updates CorporateDefaults' default
probabilites daily at the close of the market for
thousands of international corporate debt issuers
covering a broad range of industries and credit
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CorporateDefaults, like its sister site FreeCreditDerivatives, calculates Market-Implied
Default Probabilities using Savvysoft's TOPS Credit, the
market's most advanced credit derivatives software
(click here to find out more). Bond prices used are
closing prices from the world's most respected data vendors.
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