FIXnotes Market Index
A live, UPB-weighted price barometer built from every loan sale transacted on the FIXnotes marketplace. Toggle the rolling window, overlay 1st vs 2nd lien, and compare finalized-only (solid) to finalized + pending (dashed).
Averaging period
Rolling 365-day weighted-average price/UPB across all FIXnotes-listed loan sales. Weighted by UPB, not deal count. Cancelled deals (failed DD or withdrawn) are never counted. As of 2026-04-21. Methodology
Reading the chart
- Solid line — price/UPB across all deals fully cleared through due diligence. The ledger-true number.
- Dashed line — the same metric, but including deals currently in due diligence. A forward- looking signal that restates as DD clears.
- 1st / 2nd lien overlay — seniority structure drives a large share of pricing dispersion. 1st-lien supply tends to sit materially higher than 2nd-lien in most windows.
- Buckets with fewer than ten transactions in the window render as gaps — not a downspike — to prevent small- sample noise from reading as a trend.