Spotlight: Bond forecast (TT Dec99 p46-47)

Any Y2K shocks notwithstanding, continued M+A activity and equity market volatility is likely to lead to a combination of larger, more liquid corporate issues and the ability to tap size through multi-tranche issues. Greater size and liquidity will be accompanied by greater investor awareness of event risk. Expect continued evolution of the BBB market and a greater spread differential between ratings categories.

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