Today's Talk Your Book is brought to you by VanEck:

See here for more information on VanEcks CLO ETF

On today’s show, we discuss:

• What a CLO is and how portfolios are constructed

• Why leveraged loans are floating

• The downside risks to rate sensitivity and credit issues

• Why spreads have remained so low

• Possible drawdowns during a recession

• Differences between tranches

• Why an investor would include CLOs in their fixed income exposure

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