Just seven short weeks ago, the floating-rate loan market was standing tall with a 4.0% year-to-date return through October. Not only were loans on pace for the 5%+ calendar year mark that many anticipated, they had performed with remarkably low volatility and a performance profile that trumped all major asset classes.
With the U.S. economy humming and corporate fundamentals on solid footing, it's perhaps little surprise that markets have been cooperative this year. Investor sentiment remains strong and this has fueled higher-still stock prices, which of course is further supporting positive sentiment. It's a bull market.
