The U.S. leveraged loan asset class gained 24 bps in June, an improvement over May (when it lost 0.22%) but a disappointing reading compared to the rest of 2019, which has so far seen loans advance an average of 0.94% per month, according to the S&P/LSTA Loan Index Monthly Review for June.
Ongoing U.S./China trade war jitters, coupled with a dip in overall investor demand, forced the U.S. leveraged loan segment in May to give back some of April’s healthy gains, according to the S&P/LSTA Loan Index Monthly Review for May.
The persistent new-issue drought in the U.S. leveraged loan market prompted the universe of outstanding loans to shrink slightly in April, snapping a 15-month, M&A-fueled growth spurt that took the size of the market well beyond $1 trillion, according to the S&P/LSTA Loan Index Monthly Review for April.
After the more than 4% gain in the first two months of 2019, the rally in the U.S. leveraged loan secondary market ended in March, according to the S&P/LSTA Loan Index Monthly Review for March.
U.S. leveraged loans gained another 1.59% in February, the second-highest return in almost three years, bested only by the record 2.55% rebound in January, making for the best first two months of a year since 2009, according to the S&P/LSTA Loan Index Monthly Review for February
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