Index Commentary - April 2021

The U.S. leveraged loan market resumed its rally in April after hitting pause in March, despite a notable boost in the net supply of new issues. Once again, the search for yield provided a tailwind to the asset class, especially at the risker end of the spectrum. As a result, loans offering higher spreads — whether due to lower rating, second-lien status, sector or other factors — outperformed.

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