Credit investors believe the market for structured finance securities that bundle leveraged loans will start to reopen later this year after months when credit volatility has paralysed new sales of the debt instruments, according to a new survey.

Over half of respondents to a JP Morgan survey of 200 credit investors said they believe the market for collateralised loan obligations, for the past couple of years the largest investor in leveraged loans, will revive this year - although most thought this would not happen before the third quarter.