Index Commentary - October 2021

The U.S. leveraged loan secondary market retreated in October from pandemic highs set in September, following a record-breaking quarter for M&A-related supply.  Although the new-issue engine continued to roar, smashing through the annual volume record mid-month , thescales have tilted further into lenders’ favor in October as the number of lender-friendly spread flexes increased to the highest level in 2021.

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