From 3 to 6 . It is not really distressed. You overlay the asset liability that issuers have on the capital structures, recoveries on loans have been quite poor. You buy something at 70 and you wake up and there is an asset liability trade that gets done were a whole bunch of collateral is stripped out and alone trains debt trades down 50 points. Im not sure i sear the see the clear opportunity in distressed today, given their feels like a technical uplift on prices and there is a lot of flexibility in the documents that create a lot of liquidity options for the issuer. There is some tension right now, 85 matt that was joshua easterly at 6th street, speaking at the Bloomberg Global credit form in london. Welcome to bloomberg markets. Lets take a quick check of whats going on in the markets at this hour. Weve had some amazing moves in rates today after the fed came out yesterday with more hawkish paws than had been anticipated. That pushes down equity indexes as well. The s p 500 is dow
(Bloomberg) For a fleeting moment this month, investment bankers in leveraged finance — the lucrative lending that oils the wheels of M&A and feeds the $1.3 trillion market for collateralized loan obligations — had rare cause for cheer. Company valuations were enticingly low for dealmakers, the US Fed looked closer to reversing punishing rate hikes, loans were getting done.Most Read from BloombergUS Push for Release of Hostages Delays Israeli Ground War, But Won’t Stop ItIsrael Latest: Oil De
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