In this edition of the Lakemore Insights – September & October 2022 report, we revisit our Specialized Topic: Scenario Analysis of New Issue CLO Equity IRR in Dislocated and Recessionary Markets from our Lakemore Insights - April/May 2022 report, adjusting for current day market movements, and find that the incremental CLO equity IRR available in volatile conditions has improved upon the levels seen earlier this year. Meanwhile, in our Specialized Topic: CLOs Show Par Gain and WAS Improvement YTD Due to Active Management Benefit, we analyze the impact of volatile market conditions on existing CLOs and find that all vintages since 2016 have seen par gains and increased weighted average spread (WAS) year-to-date.