Flight to quality continues on
in the US leveraged loan market

Chart

Looking at year-to-date average secondary bids along with loan volume highlights the flight to quality seen in the US loan market over the past few months. Corporates with a rating of single-B or lower peaked in 2019 monthly volume with US$24bn back in May. That same month, the average monthly bid for single-B cohorts also peaked, when B1 rated names averaged near