“January is going to be a horrific month for losses,” said a leveraged finance banker at the end of the month. “In December all I was hearing was that in the New Year everyone would have new budgets and new lines, and everything would be OK. But people are now finally waking up to the fact that things are going to be miserable in this market for some time to come.”
The market remains plagued by the dual problems of the hung pipeline and the evaporation of the institutional bid for leveraged loans.
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