Goldman Sachs said rising global bond yields and recent rate hikes by several central banks are creating fresh pressure on floating-rate borrowers in the leveraged finance market. According to Sina Finance, the bank said floating-rate debt immediately raises interest expenses as benchmark rates climb, while fixed-rate borrowers face a lag until refinancing. Goldman Sachs also said the recent trend of improving corporate credit metrics may stall, with refinancing-heavy companies, software firms facing a wave of loan maturities, and rate-sensitive sectors such as real estate, autos, and home improvement under greater pressure. It added that the impact is more likely to widen differences between companies and industries than to trigger a broad shock across the leveraged finance market.