Last week, on October 19, the Loan Syndications and Trading Association (LSTA) published third-quarter data on trading in the US syndicated loan market.
The good news is that prices were up. The bad news is volumes were down.
Floating-rate loans have been a sound investment in the first 18 months of rising rates.
Theodore Basta, executive vice-president of market analytics and investor strategy for the LSTA, points out that the Morningstar/LSTA Leveraged Loan Index registered the strongest quarterly total return (3.5%)
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