Secondary Trading Settlement Monthly July 2023 Executive Summary

While prices in the secondary loan market continued their bullish push higher in July, secondary activity fell yet again.  LSTA secondary loan trading volume declined 15% to an eight-month low of $51.4B in July, a worse decline than the year-over-year 11% figure.


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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,…