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October 2024 CLO Market Trends
- New BSL deal volumes rise to $15.9Bn
- October resets of $25.8Bn set an all-time supply record
- US BSL AAA spreads remain in the mid-130s
- TRACE volume totals $14Bn, steady over the past 5 months
- Only one trading day exceeds $1Bn, compared to six in September
- Posted and traded BWICs are down slightly
- Dealer balance sheets remain flat in October
- BWIC AAA and BB volumes increase by 25% and 50%
- BB BWIC average price rises 3+ points
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