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By Craig P. RussCo-Director of Floating-Rate Loans, Eaton Vance Management and Andrew N. Sveen, CFACo-Director of Floating-Rate Loans, Eaton Vance Management

In the first half of 2020, the floating-rate loan market experienced an impressive turnaround: Loan prices bounced back sharply in the second quarter after the COVID-19-induced decline in March. Yet as of July 31, loans offered a yield of 6.11% — greater than both high yield and emerging markets debt. In this Q&A, the Eaton Vance floating-rate team focuses on why we still see value in loans, even with the strong rebound in price and with question marks surrounding the economy.

The views expressed in these posts are those of the authors and are current only through the date stated. These views are subject to change at any time based upon market or other conditions, and Eaton Vance disclaims any responsibility to update such views. These views may not be relied upon as investment advice and, because investment decisions for Eaton Vance are based on many factors, may not be relied upon as an indication of trading intent on behalf of any Eaton Vance strategy. The discussion herein is general in nature and is provided for informational purposes only. There is no guarantee as to its accuracy or completeness.