It is define as that "there is no guarantee that a bond issuer will make the payment which he promised.
When there is higher default risk the higher the probability that those who have the bond will not receive the promised payments and thus higher the yield.
The investor which are risk averse require some compensation for risk, more compensation is require for higher risk.
For exampleIt is define as that "there is no guarantee that a bond issuer will make the payment which he promised.
When there is higher default risk the higher the probability that those who have the bond will not receive the promised payments and thus higher the yield.
The investor which are risk averse require some compensation for risk, more compensation is require for higher risk.
For example
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