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 note, repricing and refinancing activity tapered off in July as focus shifted to much-needed LBO and M&A financing, although the massive supply/demand imbalance persists.  Marina Lukatsky of Pitchbook LCD wrote this.