Exhibit 3: "Key Credit and Spread Concepts for Active Management"

CFA Level III Fixed Income
#1

Hi to everybody,

In the Exhibit 3: “Key Credit and Spread Concepts for Active Management” we are shown a chart displaying the “Annual Global Corporate Bond Default Rates (%)” relative to investment grade and high-yield with investment grade showing much higher default rate than high yield. it should be the other way around obviously. I didn’t see anything in the erratas unless I missed something.

Thanks

#2

It is the other way round.

I sent them a notice on that a few months ago.

It’s in the errata; take a look.

1 Like
#3

Thank you.