Forecast is mixed for CLOs, leveraged loans

New risk-retention rules may lead to a decrease in issuance of collateralized-loan obligations, the biggest buyers of leveraged loans. Wells Fargo & Co. cautions that fewer managers will be willing to sell CLOs, leaving a vacuum that can't be filled by other investors. Meanwhile, the Loan Syndications and Trading Association expects institutional loan volume to top $500 billion by the end of 2014.

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