, Columnist
Loans Shrink Like 'Melting Ice Cube'
A rough start to the year crimps financing for more-speculative companies.
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America’s riskier credit markets suffered some deep wounds from a rocky start to the year.
The depth of the scars may not be obvious just by looking at returns. But under the surface, it’s clear the market has been damaged in terms of its main function -- providing financing to more-speculative companies.