Default rates in corporate bonds (both “investment grade” and “junk”) are not not this high very often. I wouldn’t call this a “Black Swan” event. This is not a “buy canneds goods and ammo” moment, but it is definitely bad so, if you are not already aware of it, well, you should be.
Article at the link below has some (slightly) old information.
It was written when the default rate on high-yield corporates was (only) 4%.
Currently the rate is just over 5%.
