CLO secondary dynamics – April 2026
US CLO market softens as spreads widen and trading conditions moderate

Entegra to launch CLO pricing benchmark for Europe
EXCLUSIVE: The firm also introduced visibility reports for European CLO managers today to guide managers in pricing new issue CLOs, founder Daniel Ezra said

Spreads widen and issuances pause as CLO managers react to market volatility
EXCLUSIVE: Triple-A tranches are widening by up to 10bps amid a slowdown in CLO reset and issuance activity, according to multiple sources

CLO secondary dynamics – March 2026
CLO activity stabilises in February as trading and dealer flows level off

Software sell-off weighs on growing share of European single-B CLO tranches
Around 7%-8% of single-B tranches no longer covered on MVOC basis; manager tiering re-emerges

CLO secondary dynamics – January 2026
January trading activity suggested a market that is stabilising rather than accelerating, with consistent liquidity, tighter spreads, and improving sentiment across the capital structure

CLO secondary dynamics – November 2025
The CLO market in November 2025 exhibited steady but shifting activity across trading and spreads, reflecting a market that remained active despite seasonal slowdowns and mixed sentiment

Are Investors Mispricing “Tail” Volatility in triple A CLOs? - Fair Oaks
GUEST ANALYSIS: Investors may be overestimating the volatility and risk of triple A CLOs, according to Fair Oaks Capital

CLO market braces for First Brands fallout
Auto part supplier's leveraged loan has been bid at 40 cents on the dollar, boding ill for recoveries and a hit to equity returns, as First Brands hurtles toward a restructuring

Octaura debuts CLO trading platform to streamline BWIC protocols
First of its kind platform aims to address inefficiencies in CLO trading

European CLOs back on track for record year, but caution remains – Global ABS panellists
Panellists at this year’s Global ABS conference in Barcelona say European CLO issuance has recovered from its April hiatus – but concerns remain, especially over lack of leveraged loan supply and deteriorating credit quality

Apollo, OMERS Ventures and banks back Octaura as fintech firm plans CLO trading launch
The fintech firm has raised USD 46.5m in an oversubscribed funding round

US CLO market strengthening on Trump easing trading tensions
EXCLUSIVE: Leveraged loan prices also up, makes following AGL’s print-and-sprint CLO more difficult

Blackstone, BlackRock among managers attempting “print-and-sprint” CLO deals
EXCLUSIVE: Around five CLO managers are attempting to issue deals that take advantage of market dislocation

Wild volatility drives spike in secondary market activity, as primary market hits the brakes in Europe
EU ABS weekly digest: primary ABS and CLO markets hit the brakes, while the secondary markets saw a flurry of BWICs hit the screens in Europe

Trump's tariff U-turn sparks cautious tightening in secondary
ANALYSIS: European CLO market saw little forced selling, more BWIC activity with some percentage of DNTs

CLO market stabilises after Trump’s tariff reversal
ANALYSIS:Investor sentiment has moderated after the US president backed down on tariffs, but the full effects will take a few days to emerge

BWICs dominate CLO, ABS secondary activity as primary quietens
EXCLUSIVE: A flurry of BWICs hit screens this week, offering both CLOs and ABS, though some did not trade in Europe

Janus Henderson CLO ETF sees USD 1bn outflow since tariff-induced volatility
The fund saw a drop of over USD 585m on Monday, the largest single-day withdrawal ever, as markets are roiled by tariff uncertainty  

US CLO market on pause as traders seek bottom
Market participants stare at screen trying to understand the volatility and new paradigm

European CLO market braces for issuance slowdown amid tariff fallout
European CLO spreads are widening “by the minute” in early Monday trade, and deal activity is expected to slow as many “resets off the table”  

US CLO and leveraged loan market roiled by dramatic Trump tariffs
ANALYSIS: Leveraged loans and CLO fell lower in the aftermath's of President Donald Trump's new tariffs 

European CLO market weakens on shock US tariffs and trade war escalation
EXCLUSIVE: Traders in "price discovery mode" with CLO BBs down about 25bps points, and BBBs a point or more, while others see less of a decline in morning

European structured finance market bifurcates as ABS holds its ground, while CLOs widen
CLO secondary spreads in Europe roiled by market volatility, geopolitical uncertainty and contagion from US CLOs

CLOs remain active in secondary market for second week as investors anticipate macro volatility
Busy week for CLO BWICs as investors brace for volatlity and look to crystallise profits, according to market sources