Credit managers have cash but can't find deals worth pursuing

Credit managers with some of the larger institutional investors have parked billions of dollars that they need to invest because they aren't finding any big transactions with enough upside to be worth going after. With credit spreads too tight for lenders to make any money, institutions are waiting for some kind of event to drive up volatility and create the pricing inefficiencies that lead to attractive yields for lenders, Christine Williamson writes.

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