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Bank-Loan Fundamentals Have a Tailwind

The bank-loan market has supportive conditions for at least the next year, but near-term fundamental strength might not hold up against long-term outflows, says Western Asset's Michael Buchanan.

Sumit Desai: Hi. I'm Sumit Desai, fixed-income analyst on Morningstar's manager research team. Joining me today at the Morningstar Investment Conference is Michael Buchanan. Michael is head of global credit research at Western Asset Management.

Michael, thank you for joining me.