CreditSights data found the U.S. high-yield distress ratio, a measure of risk in the bond market, declined to 10.6% in July, from 15.2 in June, suggesting default rates are moderating.
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Patrick Luby, a muni bond analyst with CreditSights Inc., a financial research firm, said, state and city governments are expected to seek to balance budgets which were hammered by a plunge in…