CLO market keeps 2020 hopes up despite market whiplash

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CLO market keeps 2020 hopes up despite market whiplash

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February 27, 2020, New York, NY, USA: Traders work on the floor at the closing bell of the Dow Industrial Average at the New York Stock Exchange in New York. Markets plunged for the sixth consecutive day on Thursday, with coronavirus fears shaving over 1,100 points off the Dow, its biggest in history. Markets plunged for the sixth consecutive day on Thursday, with coronavirus fears shaving over 1,100 points off the Dow, its biggest in history. The S&P 500 drop by 10\% from its all-time high at rate faster than it ever has before. (Credit Image: © Bryan Smith/ZUMA Wire) | Bryan Smith/Zuma Press/PA Images

The volatility in the market caused by the fallout from the Covid-19 coronavirus is having the effect of putting CLO players on the defensive, but market participants are still not predicting a drop in new issuance volume despite declines in broader markets.

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