MITEL NETWORKS 2ND LIEN TL moved up to the #1 Loan "Winner" ($51.66) after a 74.47% increase over the past week, continuing its rise in price after placing as #7 on the Winner list the prior week.
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Bank Loan Sentiment Advancers outpaced Decliners in a strong May with prices increasing in 18 out of 21 trading days in May.
ARNOTT, ETON, 5 MEMORA EUR, and TRC COMPANIES all ranked on our Top Quote Volume Movers this week, after having zero quote volume the last week.
The state of Virginia rallied to our #1 State "Winner" last week (1.24%) with a -37 bps change in yield, after ranking as a state "Loser" (1.60%) the week prior.
JOHNSON CONTROLS TL and SCIENTIFIC GAMES TL B5 surged more than 3% last week.
FAIRFAX Muni Bonds experienced a 200% increase in quote activity over the past week, making up a portion of the Quote Volume Movers.
CALIFORNIA ST bonds accounted for half of the Most Quoted Municipal Bonds in last week's market summary with nearly 30 banks/dealers quoting each issue.
HERTZ & AVIS BUDGET were two of the Most Quoted Bank Loans last week, with each quoted by 16+ banks/dealers.
In "Money Talk," Bloomberg columnist Matt Levine quoted a client note featuring Solve data to illustrate how a flood of BWICs is throwing bond markets off and creating havoc in the midst of the COVID-19 outbreak.
The state of Virginia was ranked as the #1 State "Winner" last week (-54 bps) after being in the list of top 10 State "Losers" (-45 bps) the week prior in our Municipal Bond market summary.