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Too Many CLO Cooks Can Spoil the Broth

New issuances of collateralized loan obligations have risen steadily since 2011 but too many new issuers in the market can pose a danger.

       Highland Capital's Josh TerryAsk anyone invested in collateralized loan obligations these days and you’ll likely get the same answer: “Love ‘em!” CLOs, popular among hedge funds before the financial crisis, were moribund until about two years ago. But new issuances have climbed steadily to $50 billion last year. That’s still

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