buyout volume up despite credit blowout

--The rout in global credit markets in the past six weeks has many worried that the flow of leveraged buyouts that have supported equity markets will slow or dry up, but surprisingly so far, there is little sign of this happening. --Buyout volume has nearly doubled year-over-year since credit fears started to emerge, reaching $184 billion globally from June 18 through July 24 from $98 billion in the same period in 2006, according to research firm Dealogic. --Meanwhile, European high-yield credit spreads as measured by the iTraxx Crossover index have nearly doubled and over 25 loan and bond financings have been put on ice. --'Mega-cap' LBOs of 20 billion euros plus are off the table until the existing pipeline of loans can be re-priced and placed," --credit market is now driven more by investors sentiment rather than fundamental, in my opinion