Supply-demand dynamics – too much cash and too few deals – have pushed second-lien spreads down since the credit crisis. Average Spread of Middle Market Second-Lien Loans Source: S&P Capital IQ You may also likeStat of the Week: Copper Futures ($/Pound)Covenant Trends – 10/7/2019Letter from Seoul (Second of Two Parts)Loan Stats at a Glance – 4/29/2019Loan...