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Despite negative returns, leveraged loan trade volume soars in 2018
The Q4 2018 IHS Markit leveraged loan snapshot report shows mixed results on year end trends. Despite some recent volatility in the market, trade volume surged in Q4, as T+ settlement times continued to decrease.
Q4 report highlights include:
- Loan Index Trend: Total returns for Markit iBoxx USD Liquid Leveraged Loan Index down 4.57%
- Bond Index Trend: Total returns for Markit iBoxx USD Liquid High Yield Index down 4.46%
- Pricing Trend: Average secondary market bids fall in US (2.35%) and Europe (2%)
- Sector Trend: Spreads increase across regions, led by Telecoms and Consumer Services
- CLO Trend: US CLO 2.0 BB spreads down (~60 bps) versus 2016 levels
- Trade Settlement Volume/Efficiency Trend: New records achieved in Q4 secondary par notional settlement volume ($224.3 billion) and T+ time (14.4 days) - excluding "When Issued" trades
The full report may be downloaded below
IHS Markit provides industry-leading data, software and technology platforms and managed services to tackle some of the most difficult challenges in financial markets. We help our customers better understand complicated markets, reduce risk, operate more efficiently and comply with financial regulation.
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