By David Wigan LONDON, May 23 (Reuters) - Complex credit derivatives, at the centre of recent declines in the corporate bond markets, have pared losses in recent days, but they may face more pain as hedge funds resume selling in June, analysts say. So-called equity tranches of collateralised debt obligations (CDOs) have recovered about a fifth of the declines seen in May, but the coming weeks will push hedge fund redemptions to the highest levels for a decade, analysts say, with CDOs a ...
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