JPMorgan Chase, Citigroup and Bank of America are preparing for a return of the market for collateralized debt obligations backed by high-yield loans. When the credit market froze, issuance in the CDO market plunged. "We are actively discussing the market environment with our clients, and think that they are going to be increasingly attracted both to the leveraged-loan asset class and securitization technology and applications related to the high-yield space," said Philippe Roger, global head of structured-credit trading at JPMorgan.

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