Secondary Market Monthly - January 2023 Executive Summary

While equity investors have so far “sold the rally” in February, loan prices in the secondary market continued to churn higher – up 29 bps through the first week of trading.  February price action followed a stellar January, where the Morningstar/LSTA Leveraged Loan Index (LLI) returned 2.7%, the highest monthly reading since the market rally of second quarter 2020.


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