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CLO Markets are on the Collapsing (liquidations starting)
It isn't prospective rate cuts, the downward bias in market interest rates comes from real risks in the global system. The biggest of those are US commercial real estate (CRE) and China. Key developments in both show that the situation is fragile and that difficulties are serious even if playing out mainly in the shadows.
Eurodollar University's Money & Macro Analysis
Bloomberg Real Estate Pain Is Showing Up in an Obscure Investment Product
https://www.bloomberg.com/news/articles/2024-03-19/real-estate-pain-is-showing-up-in-collateralized-loan-obligations-clos
BloombergTV with Carson Block…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.