Securitized secondary market stays active; CBO/CDO/CLO paper softens on light volume

By Cristal Cody

Tupelo, Miss., May 6 – The securitized secondary market continues to remain active in May, while pricing action has waned amid the pandemic closures.

Volume and prices softened in the prior session.

On Tuesday, $445.14 million of investment-grade CBO/CDO/CLO paper and $115.31 million of lower-rated securities were traded, according to Trace data.

Average prices softened to 92.10 for high-grade paper from 94.10 on Monday and for non-high-grade issues to 68.50 on Tuesday from 73.80.

Trading volume on Monday included $478.51 million of high-grade securities and $120.84 million of lower-rated CBO/CDO/CLO paper trade.

More than $20 billion of dollar-denominated broadly syndicated CLOs have priced year to date.

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