Independent research for better investment decisions. July 22, 2026 BRIX Index: 57 (+1) Market Status: Elevated Watch Executive Summary * Market breadth continues to deteriorate. * Private Credit remains under pressure. * High-yield credit spreads remain unusually tight. * Banking sector remains stable. * No signs of systemic liquidity stress. Conclusion No change to
BRIX Institute Independent research for better investment decisions. July 21, 2026 BRIX Index: 56 Market Status: Elevated Watch Executive Summary * Market breadth continues to weaken. * Private Credit remains under pressure. * High-yield credit spreads remain unusually tight. * Banking sector remains stable. * No signs of systemic liquidity stress. Conclusion No change
Short interest across U.S. equities has reached its highest level since modern tracking began in 2010. Professional investors are increasingly positioning themselves against the market despite major indices remaining close to recent highs. This growing divergence between market prices and institutional positioning deserves attention. Why this matters Short selling
Major equity indices continue to suggest a stable market environment. However, a closer examination reveals a different picture. While the S&P 500 remains relatively resilient, an increasing number of individual stocks are no longer participating in the advance. At the same time, volatility measures for individual stocks have
A growing number of non-listed US private credit funds are facing elevated redemption requests. While this does not yet constitute a systemic crisis, it represents one of the clearest early warning signals currently emerging within credit markets. Why This Matters Private credit portfolios are typically valued using models rather