, Columnist
Default Tsunami Brewing
Forecasts of rising stress for U.S. borrowers portend trouble for the developing world.
This article is for subscribers only.
Investors worried by a potential second wave of defaults in the U.S. should be even more concerned about emerging markets.
Moody's Investors Service says default rates currently stand at about 4 percent and could soar to as high as 14.9 percent by the end of the year under the most pessimistic scenario, Bloomberg News reports today. Its best-case projection is a 5.05 percent rate.