Credit market commentary: February 2020
The last week of February saw a global sell-off in risk assets as markets reacted to news of the coronavirus. Leveraged credit markets slid alongside a steeper drop in equities. The Barclays Agg benefited from its long duration, returning 1.80% as rates hit all-time lows during the month.
![](https://fsinvestments.com/wp-content/uploads/2020/01/commentary-market.jpg?w=250&h=150&crop=1)
Credit market commentary: January 2020
January was a mixed month for leveraged credit. HY Bonds ended January flat while Senior Secured Loans returned 0.56%. The duration-sensitive Barclays Agg rallied as rates fell over 40 bps over the course of the month.
![](https://fsinvestments.com/wp-content/uploads/2020/01/commentary-market.jpg?w=250&h=150&crop=1)
Credit market commentary: December 2019
December was a strong month for leveraged credit, with HY Bonds and Senior Secured Loans posting returns of 2.09% and 1.60%, respectively. The duration-sensitive Barclays Agg ended down slightly on the month.
![](https://fsinvestments.com/wp-content/uploads/2020/01/commentary-market.jpg?w=250&h=150&crop=1)
Credit market commentary: November 2019
Leveraged credit rose in November, with loans outperforming HY Bonds. The duration-sensitive Barclays Agg was unable to recover from an early-month rate spike, ending down slightly on the month.
![](https://fsinvestments.com/wp-content/uploads/2020/01/commentary-market.jpg?w=250&h=150&crop=1)
Credit market commentary: October 2019
Leveraged credit was mixed in October | High-rated credit continues to outperform
![](https://fsinvestments.com/wp-content/uploads/2020/01/commentary-market.jpg?w=250&h=150&crop=1)
Credit market commentary: September 2019
Leveraged credit rises in September | Fundamentals and technicals balanced for now
![](https://fsinvestments.com/wp-content/uploads/2020/01/commentary-market.jpg?w=250&h=150&crop=1)