Average software company loan prices are down to ~88 cents, near the lowest in at least 2 years.
This marks a 6-cent, or -7% decline since the start of the year.
As a result, software is the most affected sector in the US leveraged loan market.
Software engineering loans have dropped by -16.3 cents on average since January 20th, followed by horizontal software at -8.8 cents, cybersecurity at -5.3 cents, and vertical software at -4.2 cents.
By comparison, the US Leveraged Loan Index trades at ~95 cents, highlighting how concentrated the selloff has been in software.
The software sector is under heavy pressure.
