US Credit Market Grew More Dysfunctional in March, NY Fed Says
Pedestrians on Park Avenue in the Plaza District of New York.
Photographer: John Taggart/BloombergA New York Fed index on Wednesday signaled that the US corporate bond market saw more dislocations in March, with the high-grade bond market more bruised than its high-yield counterpart.
The Corporate Bond Market Distress Index, which the Federal Reserve of New York launched in 2022 to assess brewing risks in the US credit market, jumped earlier this month to the highest level since May 2025. The investment-grade component of the index last week surged to the highest since December 2023.