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Secondary Trading Monthly

Secondary Trading Monthly

Our monthly overview of the secondary loan market offers critical data and analysis of trends, valuations and market activity.

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Secondary Trading Monthly (June 2026)
While LSTA secondary loan trading volume fell 18% in 2Q26, 1H26 activity represented a record high $526B. For more insights, check out this month's analysis.
  • Analysis & Data, Secondary Trading Monthly
Secondary Trading Monthly (May 2026)
LSTA secondary loan trading rebounded in May, with volume rising 4% to $81.5 billion. Year-to-date volume remains 1% ahead of the same period last year. For more insights, check out this month's analysis.
  • Analysis & Data, Secondary Trading Monthly
Secondary Trading Monthly (April 2026)
After a strong two-month run, secondary loan trading volume dropped 22% in April to $78 billion, led by a steeper decline in software (26% vs. 20%). For more insights, check out this month's analysis.
  • Analysis & Data, Secondary Trading Monthly
Secondary Trading Monthly 1Q26
Secondary loan trading surpassed $1 trillion in LTM trading volume for the first time.  For more insights, check out this month's analysis.
  • Analysis & Data, Secondary Trading Monthly
Secondary Trading Monthly (January 2026)
2026 started off strong in January from a loan trading volume standpoint, but not so much from a performance standpoint – particularly during the latter half of the month when tech-related weakness manifested into a broader sell-off across the secondary loan market.
  • Analysis & Data, Secondary Trading Monthly
Secondary Trading Monthly 2025 Executive Summary
According to LSTA’s Ted Basta, “Annual secondary loan trading activity totaled a record $971 billion, or 18% higher than 2022’s previous record of $824 billion and 2024’s $821 billion".
  • Analysis & Data, Secondary Trading Monthly

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