The chances of default across a majority of U.S. business sectors rose in the second quarter, according to a new report by S&P Global Market Intelligence.
The study found that every sector, except for financial institutions, posted a higher median market signal—a one-year probability of default score by the end of the April-to-June period—compared with the first quarter.
Health care topped the list at 7.3 percent, up from 4.6 percent. Communication services ranked second, climbing to 4.9 percent from 3.2 percent. Consumer discretionary inched higher, to 3.8 percent from 2.5 percent. Information technology and consumer staples rounded out the top five, at 2.7 percent and 1.7 percent, respectively….