Secondary Market Monthly - July 2022 Executive Summary

Prices in the secondary loan market surged in July, alongside other risk assets; of course, this relief rally followed a brutal two-month stretch where loans traded sharply lower.  The Morningstar LSTA produced a 2.1% July return (a 20-month high), trimming the 4.66% loss produced during the May-June period – the second-worst two-month tally in a decade.

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