Equity Underwriting Seen Rebounding in '06

O'Connor, Colleen Marie; French, Jeff
January 2006
Investment Dealers' Digest;1/9/2006, Vol. 72 Issue 1, p36
Trade Publication
The article presents forecasts about the equity market in the U.S. in 2006. After 13 consecutive 25 bps interest rate hikes, the Federal Reserve is finally close to concluding its latest tightening campaign. However, that did not stop investment bankers from raking in record profits, thanks to a more volatile fixed-income trading environment and solid bond underwriting results. Meanwhile, equity sales and trading revenues soared by 36% year over year, and fixed-income sales and trading revenue grew 20%. It has been expected that growth and technology stocks will drive equity issuance as investors look to take on more risk to boost lackluster returns. There was a dearth of large IPOs in 2005, however the market performed reasonably well.


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