The U.S. leveraged loan market’s benchmark price index dropped to a two-year low yesterday as credit and equity markets slumped. Besides negative vibes from the junk bond market, investors blame an increase in supply as issuers piled in to capitalize on robust demand for floating rate assets. "We have these pockets where supply catches up to demand," said Chris Remington, portfolio manager at Eaton Vance, one of the biggest U.S. investors in leveraged loans. Jumbo LBO deals from Refinitiv, Akzo Nobel and Envision boosted fall issuance. Leveraged loans are seen as a defensive asset as the Fed hikes, given their ... (full story)