Thomson Financial: Huge Drops in Q1 US Asset-Backed Issuance, High-Yield Debt Sales
Thomson Financial reports high-yield debt sales plummeted to $5.9bln in Q1 2008 after a reading of $38.4bln in Q1 2007. US asset-backed issuance followed a similar trajectory, plunging to 54.7bln in Q1 2008 from $323.3bln in Q1 2007.
Thomson also reports Citigroup is the largest underwriter by reported fees in Q1, though JPMorgan led US high-yield bond underwriting and asset-backed securities underwriting in Q1.