Article Image

IPFS News Link • Stock Market

The Bond Market Has Frozen:

• https://www.zerohedge.com by Tyler Durdan

Late last week, we reported that in the aftermath of a dramatic drop in loan prices, a record outflow from loan funds, and a general collapse in investor sentiment that was euphoric as recently as the start of October, the wheels had come off the loan market which was on the verge of freezing after we got the first hung bridge loan in years, after Wells Fargo and Barclays took the rare step of keeping a $415 million leveraged loan on their books after failing to sell it to investors.

The two banks now "plan" to wait until January - i.e., hope that yield chasing desperation returns - to offload the loan they made to help finance Blackstone's buyout of Ulterra Drilling Technologies, a company that makes bits for oil and gas drilling.


thelibertyadvisor.com/declare