March 14 (Reuters) - The yield spread on the ICE BofA U.S.
High Yield Index , a commonly used benchmark for the
junk bond market, rose over 500 basis points for the first time
since October.
The 42 basis point widening of the index's options adjusted
spread (OAS) to 503 bps as of late Monday, from 461 bps on
Friday, was the biggest daily blow-out since early in the
pandemic in June 2020 and was another indication of financial
market stress arising from the global bank-stock meltdown
following the collapse of Silicon Valley Bank.
(Reporting by Alden Bentley; Editing by Andrew Heavens)
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