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Loan prices bounced back in May after April’s mini correction as a result of strong CLO issuance and slowing volume. Looking to the summer months, most players think the market will remain largely CLO driven, with retail a slight drag on demand. Loan supply, meanwhile, is roundly expected to be lackluster. Though the M&A-loan calendar remains within the recent range, some transactions are not expected to launch until the fall and there are few block-buster executions in the mix.
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