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Just a small comparison :))
US Excess Liquidity 9 Month Lead vs US 10 minus 2 Year Treasury Yield Curve
The 'Corporate Bond Market Distress Index (CMDI)' is a flashing amber light for risk assets. A high reading warns of potential trouble ahead, while a low reading suggests smoother sailing. It composses things like 1.Bond prices in new issuances, 2. T
The ratio between these two gauges acts like a stress test for the financial system and a signal for risk assets.
High Ratio means companies are paying much more than just the general overnight rate to borrow (think of it as a "premium for trust").
