Loan market stands firm as bonds run for the hills
Problems in isolated sectors have sent all the main bond markets into a frenzy of selling and anxiety. Why has most of the loan market remained placid as leveraged finance crumbles? The answer lies in one word: relationships.
Contagion is the buzzword of the moment in the credit markets which nowadays usually means credit default swaps, bonds, leveraged finance and securitisation, in that order.
But there is one corner of the credit markets where containment would be a better description.
Apart from ABS the only market
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