LevFin Insights - In an exclusive interview, the Lakemore team provides insights on AAA spreads in 2023 and the likely direction of spreads in the near-term. Overall, CLO AAA spreads remain sticky, even amid a rally in loan prices in recent months. Rising yields have kept loan spreads wider – and Lakemore sees a similar story in the AAA market. The firm’s view is that the volatile market conditions globally continue to be the dominant force driving spreads wider. Rising loan spreads are attractive for CLO equity investors.