Tuesday’s CPI print, which could portend further tightening from the Fed, cast a pall over the market in the latter part of this week. The high yield market took a breather from new issuance, but the loan market pushed ahead.

Loans are benefiting from expectations of higher rates and a strong bid from CLO managers. Plenty of borrowers are taking advantage of demand for well-known credits with strong ratings; most have been able to tighten pricing and accelerate their deals.