It has been status quo for European loan returns in July, as the S&P European Leveraged Loan Index (ELLI) gained 0.38%, slightly above 0.33% in June (excluding currency fluctuations).
European loans have been positive in 12 out of the last 13 months but the degree of gains has moderated this year. In the second half of last year, ELLI advanced by an average of 0.62% per month and so far in 2017, this has fallen to 0.43%, just below the historical average of 0.47% back to the start of 2010.
YTD, European leveraged loans have gained 3.02%.
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