Here They Go Again: Wall Street Is Offering Debt-On-Debt-On-Debt!

So that leaves a big gap in the market. The CLO jockeys are still banging out new spreadsheets, but buyers for the sliced and diced CLO paper are suddenly getting scarcer. No problem. Wall Street is back in the business of lending money at the Fed's gifted rate of zero plus a modest 80 basis point spread---so that the fast money can buy CLO paper on 9 to1 leverage. There is your triple shuffle....
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