Markit says U.S. leveraged loans index up 0.24% in week of March 26

By Sara Rosenberg

New York, April 2 - The Markit iBoxx USD Leveraged Loans index was up by 0.24% in the week of March 26, versus a 0.13% improvement in the week of March 19, according to data from Markit Group Ltd.

The Markit iBoxx USD Liquid Leveraged Loans index was better by 0.24%, compared to a 0.02% gain in the prior week.

Year to date, the Leveraged Loans index is up 3.8% and the Liquid Leveraged Loans index has gained 4.27%.

The average bid in North America was 93.25, compared to 93.14 in the week of March 19.

"The loan market made strong gains in the first quarter on the heels of the ECB's LTRO program which added liquidity to the European financial system and placated some of the stronger concerns for European sovereign debt contagion." said Otis Casey, director and loan market analyst at Markit.

"A typical annual return for loans is around 5%, so we are off to a very solid start," Casey added.

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