This week in the Newsletter, we focus on the market and regulatory impact of Covid-19. First, we discuss what happened in March’s secondary loan market – as if you don’t know – and the green shoots at month-end. We then drill into economic scenarios… and their impact on ratings, companies and CLOs. We turn to Washington to discuss i) SEC relief for mutual funds, ii) government relief for companies, and iii) CECL relief for banks. Finally, we introduce a webpage devoted to Covid-19 resources for the loan market.