Up, Up, And Away: The Junk Bond Rally Continues

With 2010 IPO activity continuing to gather steam, the market for new listings has dominated the headlines this week. However, more broadly speaking the overall level of equity capital market activity this year has been disappointing. Although IPOs have seen their strongest nine months since 2007, total equity market activity has totalled just US$506.7bn in the first three quarters, down 9% y-o-y - according to Thomson Reuters data.

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