Leverage
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Demand for leveraged loans ignites market, concerns on risk
By Aaron Weinman
February 5, 2020, Reuters
U.S. companies returned in droves to the U.S. leveraged loan market to cut borrowing costs throughout January, taking advantage of investors’ white-hot demand …
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Risky Corporate Debt to Take Center Stage in 2020 Stress Tests
By Ben Eisen
February 6, 2020, The Wall Street Journal
The Federal Reserve will test the strength of the largest U.S. banks by subjecting them to a hypothetical recession in …
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Banks labor under negative interest rates and ‘zombie’ loan threat
By David Crow
January 21, 2020, Financial Times
When bank executives descended on Davos last year for the annual meeting of the world’s elite, they did so under a cloud. …
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Hedge Funds Could Make One Potential Fed Repo Market Fix Hard to Stomach
By Daniel Kruger
January 14, 2020, The Wall Street Journal
One hurdle to a possible fix for recent volatility in the short-term cash markets: hedge funds.
Federal Reserve officials are …
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Mountain of risky corporate debt poses ‘stability concern’
By Joe Rennison
January 8, 2020, Financial Times
Researchers at the Federal Reserve Bank of New York said on Wednesday that an increase in sales of riskier corporate debt poses …
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High-Yield Bonds, Leveraged Loans, CLOs, and Nonband Lenders’ Impact on Credit Markets
Panel #2 – The Shadow Grows: High-Yield Bonds, Leveraged Loans, CLOs, and Nonband Lenders’ Impact on Credit Markets. From September 2019’s Where Are We in the Credit Cycle? conference.…
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PIMCO’s Crescenzi Warns Leveraged Loans Are Raising Red Flags for Investors
Tony Crescenzi, portfolio manager at Pacific Investment Management Co. (PIMCO), says there could be problems that could be related to the leveraged loan market that could exacerbate an economic downturn. …
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Yellen says regulators need new powers to combat potential asset bubbles
By Greg Robb
January 4, 2020, MarketWatch
Federal regulators need enhanced powers to combat potential asset bubbles, said former Federal Reserve Chairwoman Janet Yellen on Sunday.
Economists, who don’t often …
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Imbalances that triggered the last market crash are no more
By Colby Smith
December 30, 2019, Financial Times
More than a decade on from global financial crisis, the imbalances that appeared to precipitate the crash have been corrected. While debt …
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Significant Supervisory and Data Gaps Exist in Leveraged Loan and CLO Markets
By Mayra Rodriguez Valladares, MRV Associates
Originally published in Forbes
Significant vulnerabilities in the global leveraged loan and collateralized loan obligations (CLOs) markets have grown since the 2008 financial crisis, …
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