On the long and winding road to recovery for structured products, 2011 marks a year of modest improvement in the CLO space. While storm clouds and speed bumps continue to loom on the horizon in the form of unpredictable regulatory developments, a weakening economy and European contagion, it is becoming more evident that a market whose very existence was once threatened to be subsumed is reemerging from the ashes of the recent financial crisis.

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