Regional-bank bondholders seem unworried by New York Community Bank’s problems

While regional-bank stocks continue to be dragged down by the troubles assailing New York Community Bank, their bonds are holding up — suggesting bondholders view NYCB’s issues as isolated.

NYCB’s NYCB sole traded bond tumbled last week as its stock shed more than 40% of its value after the bank posted a surprise quarterly loss and disclosed trouble with its commercial real-estate loans. The company also slashed its dividend to build up capital to meet regulatory requirements.

The…