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Monthly CLO
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November CLO Market Trends
December 10, 4 PM EST / 1 PM PST
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Each month KopenTech provides a complete picture of trends
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Get full current data from the CLO market and performance: BWIC/TRACE volumes, DNT rates, dealer’s inventory, new issues, prices across the stack, and more. Discover perspectives and analysis on the trading activity, market health indicators and trends that shape the CLO market.
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Explore monthly highlights and commentary from our experts and buy-side professionals. Gain a complete view of the CLO market takeaways at a glance.
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KopenTech has partnered with Fixed Income Investor Network (FIIN) to provide market commentary and analysis by senior industry practitioners. Market experts’ participation offers valuable insights into the CLO industry trends.
September 2024 CLO Market Trends
- BSL new deal volume retreats 33% from previous month
- Resets push another all-time high; up 6% from last month
- Top Tier BSL new issue AAA spreads remain in the mid-130s
- September HY TRACE volume increases 45%
- Six trading days exceed $1 Bn
- Posted BWICs increase 80% from August; 53% Traded
- Dealers revert back to buying, with $1.12 Bn net purchased
- AAA and Equity BWIC volumes rebound
- Lower BB BWIC price change masks wider market interest
Guest Speaker
John Wu
Seix Investment Advisors
August 2024 CLO Market Trends
- BSL new issuance had another strong month, reaching $14.7 bnv
- Top-tier BSL new issue AAA spreads remain in the mid-130s
- Resets still dominate with $20 bn priced in August; refis at $7 bn
- Monthly secondary TRACE volume remained steady at $14 bn
- Daily trading volume subsided in late August
- Posted BWICs at LTM lows and only $1.3 bn reported as traded
- Dealer trend continues: net sellers for 5 of the last 6 months
- AAA BWIC volume is 66% lower than the LTM average
- Early August volatility weighed on monthly average prices
Guest Speaker
Josh Soffer
Prospect Capital Management