BSL delivered stable returns in May, even as dispersion deepens. For more details and insights, check out this month's analysis.
Secondary loan trading surpassed $1 trillion in LTM trading volume for the first time.  For more insights, check out this month's analysis.
According to LSTA’s Ted Basta, “As loan prices traded off and index returns sank to a six-month low in October, LSTA secondary loan trading volume surged 25% to $95.1 billion.
Loan trading volume fell 18% in 3Q25 to $233B, but rose 11% year over year; 2025 is projected to hit a record $965B in activity.
The market continued to tilt in favor of borrowers in July, leading to a record level of activity in the primary market driven by repricings, even as M&A remained elusive.
Market volatility remained elevated in May as trading levels continued to rally off their tariff-induced lows of mid-April.
Market volatility remained elevated in May as trading levels continued to recover from their tariff-induced lows in mid-April.
The de-escalation from the higher-than-expected tariffs announced on April 2nd - “Liberation Day".
Markets seized up in April, plummeting on the news that the Trump administration would apply higher-than-expected reciprocal tariffs across America’s largest trading partners.
Markets seized up in April, plummeting on the news that the Trump administration would apply higher-than-expected reciprocal tariffs across America’s largest trading partner.
Broadly syndicated loans (BSL) followed other risk assets into negative territory in March.
Geopolitical tensions, a looming trade war, and frothy market levels combined to put investors on edge in February.

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