LSTA’s secondary loan trading volume totaled a staggering $82.2 billion in February, up 19% month-over-month and 20% over the LTM average of $68.5 billion.  February marked the second busiest month ever in the secondary, following the record-setting $119.3 billion of March 2020 (the onset of COVID).  Furthermore, February activity came in 3% higher than October 2024 and May 2022 – the only other two months were volumes ran north of $79 billion.