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market with $147 billion worth of issuances, compared with $44.4 billion for the United States and $39.1 billion for all of Europe.
Furthermore, the record number of issuances in 2003-04 foreshadows increased defaults at the end of 2005 and into 2006.
Data on volume of issuances is expressed in millions of euros.
4. Issuance behavior identifies the type of issuances made by the bank (if any) during the last 12 months.
Table 4 shows that the coefficients that are statistically different from zero are also statistically different across types of issuances.
It seems today even though parts of it are working, large companies, some of them can float junk bonds again, a lot of issuances of equity.
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A surge of issuance could soften the market.
The final details in terms of issuance and allocation are still to be decided," he said.
Many investors are nervous about the volume of issuance and the potential for inflation.
The current glut of issuance does not necessarily signal a bubble.
Let us assume that the market demands 5% to swallow a doubling of issuance.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com