DCM Preps for Return
Issuers are lining up for a traditional early September rebound in DCM issuance, while bankers expect levels above Q2 – but less than this year’s frenetic Q1. Persistent appetite for EM credit, coupled with sustained low interest rates in developed markets and strong EM debt fund inflows, have continued to drive DCM issuance this year, poised to set another record. But whether lower-rated issuers can cash in on the DCM frenzy remains an open question as the year enters its final stretch. “I...
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