Crypto hit an all-time high. The CLO machine is roaring. Companies are crawling out of the woodwork to try refinancing deals that weren’t possible six months ago. Even X supposedly had some kind of talks with its bank lenders recently.

Say what you will about the lack of genuine new money supply and leveraged buyout activity, but it’s hard to deny 2024 is shaping up way better for leveraged credit than people expected a few months ago. At least for now.

Some buysiders are even starting to joke about being too busy.