With two weeks already on the books in March, the secondary loan market has regained its footing over the past five trading sessions. The average bid level on S&P/LSTA Leveraged Loan Index (LLI) rebounded above 98.5 this week, after falling during three straight sessions to begin the month. At its current bid level of 98.52, the secondary is now trading 20 basis points shy of its 2018 high water mark reached during the first week of February. But we all know how that ended.
This week we covered: Secondary Stability(?), CECL Cometh, Blockchain & You, and CLO Highs
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Membership in the LSTA offers numerous benefits and opportunities. Chief among them is the opportunity to participate in the decision making process that ultimately establishes loan market standards, develops market practices, and influences the market’s direction.