US leveraged loans posted a steady if unspectacular month in May, with the Morningstar LSTA US Leveraged Loan Index gaining 0.51%.
US leveraged loans continued to rally in July, as the Morningstar LSTA US Leveraged Loan Index gained 1.29%, led by the lower-rated names.
The US leveraged loan market retained a firmer tone in November, with the Morningstar LSTA US Leveraged Loan Index gaining 1.24%.
The Morningstar LSTA US Leveraged Loan Index gained 1.03% last month, returning to the black after a 2.27% loss in September.
The US leveraged loan market closed out the third quarter on a sour note, amid a darkening outlook for the economy and increased volatility across the capital markets in late September.
Prices in the US leveraged loan secondary market rallied in the first two weeks of August, building on July’s momentum.
Secondary loan prices rebounded strongly in the second half of July, joining other risk assets in a mid-summer rally.
The U.S. leveraged loan market in May posted its biggest monthly loss since the onset of the Covid-19 pandemic, plunging 2.56%,according to the S&P/LSTA Leveraged Loan Index.
The U.S. leveraged loan market in April continued to recover from the steep losses in the first half of March.
In the second half of March the U.S. secondary loan market reclaimed some of the losses sustained since Russia invaded Ukraine.
Russia's invasion of Ukraine roiled risk markets in the final week of February, heightening geopolitical uncertainty that had already cast a shadow over activity in recent weeks.
U.S. leveraged loans held up relatively well in January amid a rout in equities and bonds, as expectations of rising rates attracted a surge of capital into the floating-rate asset class....

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