U.S. banks from Goldman Sachs Group Inc. to Lehman Brothers Holdings Inc. have whittled their holdings of leveraged buyout loans to $129 billion from $163 billion at the beginning of the year by offering the debt at discounts, according to analysts at Bank of America Corp.
The decline is a ``ray of hope'' for banks amid a slump in credit markets and a slowing economy, said analysts led by Jeffrey Rosenberg. The firms also have $73.6 billion of high- yield bonds they need to sell, they said.
Apparently people are treating this as if it is good news. I would not take it as such at face value, but any momentum out of the logjam of February is a positive sign.
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