-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI Podcasts -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
MNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
-
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI: NY Fed Bond Distress Gauge Rising But Still Healthy
A gauge of distress in the U.S. corporate debt market from the Federal Reserve Bank of New York has risen over the past month but remains below its historic median, an indication of a still-healthy market despite recent rises in yields, according to data published Wednesday.
The Fed bank's Corporate Bond Market Distress Index, which measures bond market strain on a scale from 0 to 1, edged up to 0.20 from 0.15 in the month through June 24. The investment grade market segment registered more strain, scoring higher on the scale at 0.36, compared to the high yield market, which came in at 0.22 -- a trend also seen in previous tightening cycles.
The index is intended to give an early warning signal of financial market distress by gauging what's driving price swings based on seven subindices looking at spreads and issuances, the New York Fed said.
It began the year at historically low levels but spiked following the invasion of Ukraine as average grade size declined and secondary market turnover increased. It has since retraced to normal levels.
The index is updated weekly and published once a month.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.