Andrew W. Park

Andrew W. Park


CLO editor for @lcdnews of S&P Global Market Intelligence @spmarketintel. Accidental art investor.

2864 followers  •  377 follow  •  Eastern Time (US & Canada)  •   http://www.leveragedloan.com

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Japan Post Bank updated its latest CLO holdings this AM ~$14 billion but also shows a -$313 million mark-to-market loss on them (~-2.2%) But the Japanese banks have said in the past they intend to hold these to maturity

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Have to reiterate here, the bar for a AAA CLO investor to take a principal loss is still very, very high. We're talking defaults having to spike over 3x what the highest rate had been going back to 1999

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“The average price of emergency air ambulance transport has doubled since 2010 from $15k to $30k in 2014” $AMGH $AIRM @INETeconomics  event examining rising healthcare costs, including private equity ownership of Air Medical Holdings & Air Methods Corp

This is going on while the issue of increasing price transparency across all medical billing (the lack of which has been quite profitable for much of the industry) is being actively addressed in DC these next few weeks. Just out from the NYT:

Japan's Norinchukin Bank holdings of CLOs stay flat (as they wanted to pre-empt) ~$73 billion but still holding nearly 10% of the entire market. The bank cited the Fed's interest rate cuts (CLOs are floating rate) as one of the reasons it has slowed its buying.

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