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CDO Week: Another round of tight pricing

To the dismay of several investors, Merrill Lynch brought the triple-A's on Franklin Templeton's $550 million arbitrage, cashflow CLO at a tight 41 basis over the three-month Libor. From the investor vantage point, the 9.1-year average life tranche was visibly the most expensive CLO print of the year.

The...

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