YTD volume up 77%; October falls just 15.3% YoY

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U.S. direct lending is thriving in 2022, with year-to-date volume up 77%, according to KBRA DLD. Volume recorded through October totaled $122 billion, up from $69 billion through the same period last year.

By contrast, U.S. leveraged loan and high yield volumes have tanked under steep interest rate hikes. Institutional leveraged loan volume is down 63% this year, while high yield is off 76%, according to Refinitiv.