DailyDAC Market Summary for Seven Day Period Ending March 16, 2026

Market Watch: March 10– 16, 2026 

DailyDAC’s Sentiment Score: 3.2/10 The week of March 10–16 may come to be remembered as the moment when private credit’s multi-year expansion met its public reckoning. The DailyDAC Sentiment Score lands at 3.2/10, firmly in high-stress territory, with secondary pricing and the maturity wall pushing the score higher than docket heat alone would suggest.

In the secondary market, the tape was distressed across nearly every pocket exposed to private credit or near-term refinancing risk. BlackRock wrote down its Infinite Commerce loan to zero. JPMorgan marked down software-sector private credit portfolios and restricted lending against the collateral. Fortune documented $265 billion in alt-manager market-cap destruction. And Blackstone’s BCRED absorbed $6.5 billion in redemption requests. For credits below BB, bid-ask spreads widened as fund managers sold bonds to satisfy redemptions. High-yield OAS widened to approximately 298 basis points (+17bp). Liquidity is not broken– but it is deliberately thin for anything with near-term refi exposure.

The maturity wall has also stopped being theoretical. GDP growth was revised to 0.7% annualized, core PCE reaccelerated to 3.1%, oil pushed above $100 per barrel on Strait of Hormuz supply disruptions, and the Fed heads into its March 17–18 meeting with rates at 3.50–3.75% and diminishing room to ease. For credits that need to refinance, the math is punishing on both sides of the equation: rate and spread.

The LME and conflict bucket continued at a steady boil. The ConvergeOne district court reversal—holding that exclusive backstop arrangements violate equal treatment under Bankruptcy Code §1123(a)(4)—sent a warning shot to prepackaged plan architects everywhere.

Docket heat remained elevated without a single dominant shock filing. BlockFills’ March 15 Delaware filing added another crypto casualty, with up to $500 million in liabilities. Spirit Airlines filed its RSA. Cumulus Media continued its prepackaged restructuring (the eighth billion-dollar bankruptcy of 2026, per Octus). Eddie Bauer’s store auction drew zero qualified bidders, sending 174 leases to liquidation. And Saks Global’s 15 additional store closures underscore that the retail reckoning continues- – just in slow motion.

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