Sources: X covered some losses usually borne by banks when seven lenders, including Morgan Stanley, sold $1.2B of its debt at 98 cents on the dollar in April (Financial Times)

Financial Times:
Sources: X covered some losses usually borne by banks when seven lenders, including Morgan Stanley, sold $1.2B of its debt at 98 cents on the dollar in April  —  Donald Trump's election helped revive loans that once threatened to hit banks with big losses  —  Unlock the White House Watch newsletter for free

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