Welcome to this edition of Credit Conditions, a quarterly publication that analyzes recent debt market trends.
The second quarter of 2025 saw tariff turbulence and an on-hold Federal Reserve reshape risk pricing and capital deployment in both the M&A and credit markets. Dealmakers faced a volatile landscape, with some M&A processes stalling while others sped up to outrun uncertainty. Credit markets responded unevenly as well, with the broadly syndicated loan (BSL) market freezing and then thawing while private credit continued to fund but at widening credit spreads. Access the full newsletter below.
On June 18, we hosted a webinar that broke down the current financing market conditions, following the release of our quarterly editorial. To learn more or watch the webinar recording, please click here.
For more, access our Credit Conditions resource page here.
