09 Sep Voya Senior Loan Group – ‘Talking Points’ – Back to Work (includes August in Review)
Voya Senior Loan ‘Talking Points’ is a weekly publication from the Voya Senior Loan Team Heads, which provides key insights and results in the Senior Loan marketplace.
Back to Work
The loan market kicked back into gear this week after its late summer siesta and the U.S. Labor Day holiday. The Index posted a 0.11% return, and the average bid moved up three basis points to end the week at 97.95. Riskier loans led for the week.
August in Review
After a busy first half, the loan market slowed down in the latter part of the month as the U.S. Labor Day holiday approached and summer drew to an end. Market technicals found a bit more balance, which helped ease back loan prices and led to a slight dip for the Index in August, with a return of – 0.04%. The weighted average bid of the Index ended the month at 97.92. On a year-to-date basis, the Index return stands at 2.57%, solely a function of interest carry as market value returns have drawn down 59 bps over the period.