Secondary Market Monthly - February 2022 Executive Summary

Following January’s flurry of secondary trading activity in the loan market (volumes spiked 48% to $76B), February volume increased another 3% to $78.1B.  While this marked the second busiest month on record, February 2022 still fell well short of March 2020’s all-time high of $119B.


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The Kirschner Case: This is the End

The Supreme Court denied Kirschner's petition for certiorari, finally ending the case. As LSTA's Elliot Ganz explains, this cements that syndicated loans are not securities,…