Meaningless Side News: High Yield Default Rate Hits 6 Year Highs, Defaults Expected to Worsen

I am very sorry to burden you with this drek. But it’s important that I inform the 0.0001% of you, who are still interested in these meaningless addendums to the boolish narrative, of this news.

Speculative high yield manure defaults surged to 5.1% in Q2, up from 4.4%, according to Moody’s–thanks in large part of overleveraged asshole energy companies.

These jackasses are missing debt payments, left and right, mainly because their core product, CRUDE, is crushed to pieces. Don’t tell Wall Street, however, as oil stocks are all the fucking rage these days, soaring by triple figures, applying figure four leg locks onto idiot short sellers–who clamor for blood.

Meanwhile, $50 billion in defaults have been surpassed, thus far, neatly surpassing last year’s hiccup of just $48.3. At this pace, markets will surge towards 20k and defaults will rise, in kind, to upwards of 90-fucking-billion by the end of 2016–according to some bitches at Fitch.

“Defaults are still on the rise,” Sharon Ou, senior credit officer at Moody’s, said in a phone interview. “The commodity-related sectors are still under distress.”

Fuck off, Sharon.

The worst has been priced in, apparently. Blue skies from here.