Investment Management

Senior Loan Talking Points

11/10/2017

Senior Loan Talking Points - Activity Going, Supply Slowing

By Jeff Bakalar, Managing Director and Group Head of the Senior Loan Group

Activity in the U.S. loan market remained healthy this week, despite the forward calendar naturally slimming. The S&P/LSTA Leveraged Loan Index (the “Index”) was relatively flat with a -0.02% total return as the average Index bid fell by nine basis points to end the week at 98.07.

11/05/2017

Senior Loan Talking Points - Activity Remains Strong, Varied

By Jeff Bakalar, Managing Director and Group Head of the Senior Loan Group

Despite robust market demand, an increase in primary market activity kept Index returns somewhat in check this week. The S&P/LSTA Leveraged Loan Index (the “Index”) gained 0.04%, based largely on interest carry, while the average bid slipped four bps to end the week at 98.16.

10/30/2017

Senior Loan Talking Points - Steadily Awaiting Earnings

By Jeff Bakalar, Managing Director and Group Head of the Senior Loan Group

It was a relatively uneventful week in the US loan market; activity remained steady and technicals reasonably balanced, with most investors eyeing a ramp-up in Q3 earnings reports.

10/23/2017

Senior Loan Talking Points - A No-Vol October So Far

By Jeff Bakalar, Managing Director and Group Head of the Senior Loan Group

While volatility across markets historically escalates in the month of October, it hasn't been the case this time, at least thus far. Loan market technicals during the first half of the month have remained reasonably balanced, thanks to a pickup in M&A activity and a slowdown in repricings.

10/15/2017

Senior Loan Talking Points - Changing Leaves, Steady Technicals

By Jeff Bakalar, Managing Director and Group Head of the Senior Loan Group

U.S. loan market technicals remained reasonably balanced this week as recently robust M&A activity slowed and repricing activity picked up some. Against that backdrop, the S&P/LSTA Leveraged Loan Index (the "Index") gained 0.16%, the average bid rising five bps, to 98.09.

10/08/2017

Senior Loan Talking Points - Staying Keen on Loans

By Jeff Bakalar, Managing Director and Group Head of the Senior Loan Group

Demand from a variety of market participants drove a total return for the S&P/LSTA Leveraged Loan Index (“Index”) of 0.16% for the week. The average bid moved up seven basis points to end the week at 98.04.

09/29/2017

Senior Loan Talking Points - A Steady End to a Busy Quarter

By Jeff Bakalar, Managing Director and Group Head of the Senior Loan Group

Buoyed by healthy secondary trading activity, the S&P/LSTA Leveraged Loan Index (“Index”) posted a total return of 0.08% for the week. The average bid moved down one basis point to end the week at 97.97.

09/22/2017

Senior Loan Talking Points - M&A Picks Up

By Jeff Bakalar, Managing Director and Group Head of the Senior Loan Group

The loan market maintained its faster pace this week amid generally steady market technicals. S&P/LSTA Leveraged Loan Index (the “Index”) returned 0.13%, while the average bid for the asset class increased six basis points to 97.98.

09/17/2017

Senior Loan Talking Points - Picking Up the Pace

By Jeff Bakalar, Managing Director and Group Head of the Senior Loan Group

Loan market activity remained steady this week as business continued to pick up after the U.S. Labor Day holiday. The S&P/LSTA Leveraged Loan Index (the “Index”) gained 0.04%, while the average bid for the asset class slipped three bps, to 97.92.

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