“It is a very mixed blessing to be brought back from the dead,” Kurt Vonnegut once said. That’s an apt description of the state of the once-moribund market for syndicated loans. While leveraged deals doubled in the second quarter from the first, to $68 billion, they are still at one-third the dollar volume of two years ago — hardly reason to bust out the bubbly. Any pickup in M&A deals could boost activity, but access to this kind of financing will be limited, according to Thomson Reuters.