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Corporate earnings surprise in US, Europe isn't what it seems

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S&P Global Ratings expects the rate of defaults among junk-rated US companies to jump from 3.8 per cent in March 2016 to to 5.3 per cent in March 2017.

London

EARNINGS from the first quarter are almost all in - and most companies in Europe and the US managed to beat analyst estimates. That's no reason for bond investors to celebrate.

Of the 458 companies in the S&P 500 that have reported, almost 75 per cent beat consensus