Corporate defaults are rising at their fastest pace since 2009

Companies around the world have defaulted on $50 billion of debt so far, according to a study by credit rating agency Standard & Poors.

Defaults are rising at their fastest pace since the financial crisis. Five companies missed payments last week, taking the total to 46 for the year.

The trend has been led by energy and mining companies, with a collapse in the oil price at the start of the year leading to panic in the market for high-yield (or junk) bonds.

Peabody Energy, the world's largest privately owned coal producer filed for US bankruptcy protection last week after a sharp fall in coal prices that left it unable to service a recent debt-fueled expansion into Australia.

Here are the charts:

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