Mercurial year in loan secondary market driven by inflation fight
Source: Debtwire Par
It has been a mercurial year in the loan secondary market. The year started off strong with average bids ending the month of January at 97.72 and the share of loans trading at par or greater surpassed 15%, as optimism pulsed through a market desperate to exit the depths of a pandemic-driven downturn. To shore up liquidity during the worst of the coronavirus (COVID-19) pandemic the Federal Reserve stepped in, making unprecedented purchases of leveraged debt.
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