When playing around with a certain matrix I'm studying I noticed something interesting. The top singular values seem to occur in pairs:
In[1]:= N[SingularValueList[M]]
Out[1]= {24.955, 24.955, 13.9397, 13.9397, 9.83108, 9.83108, 7.73701,
7.73558, 6.53796, 6.51335, ...}
A plot of the whole spectrum looks like:
This seems special and not common. Are there certain classes of matrices for which this is known to occur?

It occurs in the presence of some symmetry, most obviously in matrices of the form
$$ \pmatrix{A & 0\cr 0 & A\cr}$$