As the Chart of the Week shows, the recent rise in US high yield defaults has been contained almost entirely to energy, metals and mining.

Source: Moody’s, Goldman Sachs Global Investment Research and GSAM as of 5/3/2016. Past performance does not guarantee future results, which may vary.

Source: Moody’s, Goldman Sachs  and GSAM as of 5/3/2016. Past performance does not guarantee future results, which may vary.