Secondary Trading Settlement Monthly - October 2021 Executive Summary

Reversing a three-month trend of declining secondary activity, LSTA loan trading volume surged 28% in October to $69.8B. October volume represented a seven-month high which came in 19% ahead of its trailing three-month average of just $58.5B.

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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,…