US leveraged loan prices continued to rise in July amid strengthening investor optimism. By mid-month, more than half of outstanding loans were priced at par or above — a clear signal of renewed market exuberance. This bullish backdrop was reinforced by a surge in CLO issuance and a rebound in loan repayments, both occurring alongside...
Analysis & Data, Morningstar/LSTA Leveraged Loan Index publication
Conditions in the US leveraged loan market worsened in March as sentiment soured due to tariff concerns, capital market volatility, weakening consumer confidence and a dimmer outlook for borrower fundamentals. The increased uncertainty, coupled with a sharp equity market sell-off, dampened loan investor demand and risk appetite just as the long-awaited net supply of leveraged...
Analysis & Data, Morningstar/LSTA Leveraged Loan Index publication
US leveraged loan market sentiment soured in February amid tariff concerns, volatility in the equity markets, and the potential effect of a less certain growth picture on borrower fundamentals. As secondary prices tumbled, opportunistic borrowing diminished and a handful of deals were pulled from the market. Although new-issue spreads remain near the tightest levels in...
Analysis & Data, Morningstar/LSTA Leveraged Loan Index publication
US leveraged loans continued to rally in November, fueled by exceptionally hot demand from CLOs and retail investors, set against very little new issuance.
Analysis & Data, Morningstar/LSTA Leveraged Loan Index publication
September marked the beginning of the Fed's rate-easing cycle, with its 50 basis point cut ending the two-and-a-half-year tightening regime during which rates surged at the fastest clip in decades.
Analysis & Data, Morningstar/LSTA Leveraged Loan Index publication
A wave of volatility hit the leveraged finance market in early August as investors pivoted away from risk assets and toward safe havens following the surprising jobs report that came in well below expectations, stoking growing concerns about the health of the US economy
Analysis & Data, Morningstar/LSTA Leveraged Loan Index publication
US leveraged loan performance improved in July after hitting a rough patch in June, although returns continue to lag supercharged levels from earlier this year. The tech rout affecting broader financial markets weighed down returns last month, given the sector’s large footprint in the loan asset class, especially within the B-minus cohort. On a bright...
Analysis & Data, Morningstar/LSTA Leveraged Loan Index publication
