S&P Capital IQ: S&P/LSTA Leveraged Loan Index, Invest in CLO Securities ( institutional investors only) CLO Debt spreads are at or near five-year tights. 20 Jun 2019 S&P/LSTA Leveraged Loan Index Analysis · Fitch/Covenant Review Analysis Monthly deconstructs trends in the CLO market, looking at issuance, spreads, In particular, for those asserting that CLO loan holdings are opaque, we In particular, Citi's CLO 2019 Midyear Outlook analyzed the market 19 Sep 2019 CLO spreads typically are wider than those of other debt instruments, As of 31 July 2019 (S&P LSTA Leveraged Loan Index; Bloomberg However, even in the context of such severe market turmoil, CLO equity Currently, the default rate on S&P/LSTA Leveraged Loan Index (LLI, US) and S&P the move in credit spreads has been more or less one-directional (i.e. tightening). 15 Jul 2014 As the first US CLO index of its kind, CLOIE offers total returns and analytics based on observable pricings of a representative pool of bonds CLO debt tranches pay a spread above LIBOR. The index is a benchmark to track the market for U.S. dollar denominated broadly-syndicated, arbitrage CLOs.
The Palmer Square CLO Senior Debt Index (CLOSE), a rules-based pricing and total return index for US CLO debt rated Triple A or AA, also rose to its highest level since inception, hitting 102.21 The quality of the arbitrage (i.e. the volume of excess spread) will vary during the life of the CLO. This is largely due to changes in the underlying loan portfolio over time. While CLO liabilities are set (fixed) for the life of the CLO, the assets are in a continual state of flux. Loans prepay, the CLO manager actively
New studies in several countries and a large coronavirus outbreak in Massachusetts bring into question reassuring assertions by US officials about the way the novel virus spreads. Hypothetical CLO Amortization Timeline. Hypothetical example for illustrative purposes only. Please see Disclosures for a more complete discussion of risks of investing in CLOs. *By design, CLO equity tranches receive much of their return from excess spread distributions. Return of stated principal is highly variable. Viewpoints CLO Markets: Opportunities Amid Risks in 2019. CLO markets may offer compelling opportunities for tactical investors with patience, a contrarian mindset, risk awareness and the fortitude to withstand market swings.
S&P Capital IQ: S&P/LSTA Leveraged Loan Index, Invest in CLO Securities ( institutional investors only) CLO Debt spreads are at or near five-year tights. 20 Jun 2019 S&P/LSTA Leveraged Loan Index Analysis · Fitch/Covenant Review Analysis Monthly deconstructs trends in the CLO market, looking at issuance, spreads, In particular, for those asserting that CLO loan holdings are opaque, we In particular, Citi's CLO 2019 Midyear Outlook analyzed the market 19 Sep 2019 CLO spreads typically are wider than those of other debt instruments, As of 31 July 2019 (S&P LSTA Leveraged Loan Index; Bloomberg However, even in the context of such severe market turmoil, CLO equity Currently, the default rate on S&P/LSTA Leveraged Loan Index (LLI, US) and S&P the move in credit spreads has been more or less one-directional (i.e. tightening).
Fitch Ratings U.S. CLO Index: Second-Quarter 2019 Spreads Change Course. The average weighted average spread (WAS) for U.S. broadly syndicated loan (BSL) CLOs inched up in the second quarter of 2019, a trend shift from past quarters, Fitch Ratings says in its latest U.S. CLO Index. Over the long term, CLO tranches have significantly outperformed other corporate debt categories, including bank loans, high yield bonds, and investment grade bonds. Wider yield spreads. CLO spreads typically are wider than those of other debt instruments, reflecting CLOs’ greater complexity, lower liquidity, and regulatory requirements. Collateralized Loan Obligation - CLO: A collateralized loan obligation (CLO) is a security backed by a pool of debt, often low-rated corporate loans. Collateralized loan obligations are similar to The Palmer Square CLO Senior Debt Indexﾠ(“CLO Senior Debt Index”) (ticker: CLOSE) is a rules-based observable pricing and total return index for collateralized loan obligation (“CLO”) debt for sale in the United States, original rated AAA or AA or equivalent. Asset-Backed Securities and CLOs: Spreads to Tighten Further 1.1, 0.8, and 0.7 percent for BBB-rated, A-rated, AA-rated, and AAA-rated CLOs, respectively. The broader post-crisis CLO index returned 0.9 percent. Discount margins tightened across all tranche ratings, with the average discount margin ending the quarter at 212 basis points, the Viewpoints CLO Markets: Opportunities Amid Risks in 2019. CLO markets may offer compelling opportunities for tactical investors with patience, a contrarian mindset, risk awareness and the fortitude to withstand market swings.