The US leveraged loan secondary market softened in October, with the asset class posting its lowest return since April. Retail withdrawals, sector-specific challenges, and weakness in AI-linked names weighed on performance. Nonetheless, technical conditions held up, as the proportion of loans priced at par or above gained ground, suggesting renewed investor appetite and more supportive repricing conditions after a mid-month dip. Marina Lukatsky of Pitchbook LCD wrote this.