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BANK LOAN REPORT: New York Promises Slower HY Market

Date: 04-Jan-2011

PJSC Managing Director Anders Maxwell says what troubles him about the high yield resurgence is that the leveraged loan market has not recovered to anywhere near the same extent as the bond market, making it more likely that the end buyers for new junk bonds are retail buyers rather than institutional investors and that the quest for yield has led investors to overvalue a whole range of assets including junk bonds.  Read more