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North America Corporate Credit Oulook Mid-Year 2019: Pockets Of Risk Emerge

Uncertainty lingers as trade-related headwinds persist, giving way to likely slower GDP growth for the rest of the year. Corporate capex spending growth has slumped in response. We expect the speculative grade default rate to increase to 2.7% by March 2020, which would remain below its level from March 2018.


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