Credit Markets Face 10-Year Itch
In October, I moderated a panel at the Loan Syndications and Trading Association's annual conference, discussing the state of the primary market. But the real issue was the outlook for 2008. The panelists-all senior investment banking executives-were cautiously pessimistic. Each thought volume would drop significantly during 2008, from 25 percent to upwards of 40 percent, with the brunt of the declines in the first quarter.
Their views were based on the idea that dealers would struggle to work
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