Capital raising poll 2004: Lead banks sit pretty atop volatile market

It has been a stop-start year in the international debt capital markets, with banks themselves the latest group of issuers to take advantage of investors' search for yield by raising low-cost funds. Banks' capital markets desks are struggling to sell corporates on the joys of leverage.

Global financing 2004:

Borrowers want it all | Capital raising results tables 

FREDERIC DESCLAUX IS complaining about hiccups. He hasn’t got them. The debt markets have.

“The market has fantastic peaks,” says SG CIB’s joint head of fixed income and derivatives for Europe and Asia. “If you take the first full week in September, the Thursday was incredibly active. Then on Friday everybody was watching TV.”

Sudden bursts of activity interrupting periods of stasis have characterized the debt markets this year.

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