LSTA secondary loan trading rebounded in May, with volume rising 4% to $81.5 billion. Year-to-date volume remains 1% ahead of the same period last year. For more insights, check out this month's analysis.
After a strong two-month run, secondary loan trading volume dropped 22% in April to $78 billion, led by a steeper decline in software (26% vs. 20%). For more insights, check out this month's analysis.
According to LSTA’s Ted Basta, “Annual secondary loan trading activity totaled a record $971 billion, or 18% higher than 2022’s previous record of $824 billion and 2024’s $821 billion".
According to LSTA’s Ted Basta, “Annual secondary loan trading activity totaled a record $971 billion, or 18% higher than 2022’s previous record of $824 billion and 2024’s $821 billion."
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 – the fourth highest monthly print on record. Incredibly, three of the four busiest months in the secondary have occurred in 2025.”
Records are made to be broken, and according to LSTA’s 2Q25 Trade Data Study, they were once again. Second quarter secondary loan trading volume surged to a fresh record $262 billion, 3.4% higher than the first quarter’s previous high and an astonishing 26% above the same time last year.
As market volatility spiked higher in April, LSTA secondary loan trading volume surged again above $100 billion. April activity ran north of $109 billion, a 6% increase over March’s $103 billion and 47% above the $70 billion LTM average (through February)....
LSTA's secondary loan trading volume totaled a staggering $82.2 billion in February, up 19% month-over-month and 20% over the LTM average of $68.5 billion. February marked the second busiest month ever in the secondary, following the record-setting $119.3 billion of March 2020 (the onset of COVID). Furthermore, February activity came in 3% higher than October...
