US lev loan market dogged in face of CLO wobble

By David Bell
05 Apr 2018

Unlike most sectors of US corporate credit, leveraged loans have escaped the volatility of the last couple of weeks. Even a slight cooling in collateralised loan obligations, the market’s biggest investor base, is unlikely to throw this corner of US credit off course just yet, writes David Bell.

Wells Fargo highlighted the US loan market as the “best performer” in US corporate credit on Thursday, with JP Morgan analysts also pointing out the positive 1.53% returns in the year to date, compared with losses of 240bp in investment grade bonds, 83bp in high yield, and 61bp ...

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