Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Oil Prices Slip as U.S.–Iran Talks Ease Supply Disruption Fears 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
Australia’s December Trade Surplus Expands but Falls Short of Expectations 
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
According to latest data from Standard & Poor rating agency, global corporate defaults have reached 70, so far this year, fastest pace of rise since 2009, aftermath of great recession. Data is of May 18th, 2016. After 2009, YTD corporate defaults have never reached above 40, whereas this year it is closing in on last year’s total defaults of 113.
There has been 10 defaults alone in last week, whereas 8 has been from energy and segment. Around 80% of those defaulted are from United States, while half of them are from energy and other natural resources segment, which has been hit hard by price drop in oil and natural gas, along with other global commodities. So far, 29 defaults have occurred in energy segment, 12 from metals, mining and Steel.
With commodities’ operators have fewer options to boost cash flows, other than continuing operations, they remain extremely vulnerable to price fluctuations to the downside and according to Standard & Poor, more defaults are likely to follow.
However, the agency as of now sees little evidence of spillover effects into other segments of the economy, but not ruling the possibility in coming quarters.
