Discussion Paper
What Drove Recent Trends in Corporate Bonds and Loans Usage?
Abstract: U.S. nonfinancial business debt increased substantially in recent years in both absolute and relative terms and is now near its record high. Figure 1 shows that most of this increase was due to significant growth in investment-grade (IG) corporate bonds and institutional leveraged loans, while high-yield (HY) corporate bonds and C&I loans largely remained steady.
https://doi.org/10.17016/2380-7172.2789
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Bibliographic Information
Provider: Board of Governors of the Federal Reserve System (U.S.)
Part of Series: FEDS Notes
Publication Date: 2020-10-23
Number: 2020-10-23-1