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 Epoch Times reported. 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 spending 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. S&P Global Market Intelligence data indicated that the odds of a default in the financial sector eased to 0.2 percent from 0.3 percent during the January-March period. The utilities market was at the bottom of the list at 0.2 percent. When assessing default risks by industry, the report identified health care facilities, health care technology, advertising, broadcasting and health care services as the most vulnerable. The data highlighted that the least vulnerable were asset-management and custody banks, multi-utilities, electric utilities, railroads and water utilities.
