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This Week In Credit: Defaults Back In Focus (Sept. 25, 2023)

Five corporate defaults last week was the highest weekly count in six weeks, and followed the highest monthly tally for August since 2009. Meanwhile, weak September PMI data for some economies is raising concerns about slower growth, while recent comments by the ECB and the Fed hint at even-higher-for-longer rates. A light data week ahead will put more focus on Friday's releases of euro area inflation numbers and U.S. PCE inflation. In China, markets will be watching the official September PMI on Saturday.