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2015-12-02 — zerohedge.com
``Earlier today, the FT wrote an article in which it found that "companies have defaulted on $78bn worth of debt so far this year, according to Standard & Poor's, with 2015 set to finish with the highest number of worldwide defaults since 2009" which together with... the staggering disconnect between junk bond yields and the S&P500 has made many wonder if the credit cycle - a key leading indicator to economic inflection points and in the case of the last credit bubble, the Great Financial Crisis - has already turned. According to a recent analysis by Ellington Management, the answer is a resounding yes.''
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