Figures just released by Dealogic show that DCM volume in the first quarter of this year was 9% lower than in the same period last year.
Global DCM volume fell by 9% in 2005 to $1.5 trillion from $1.6 trillion in 1Q 2004, with the US market leading the decline. The number of deals declined by 27% to 6,132 from 8,352 in 1Q 2004.
IG issuance, one of the biggest drivers in DCM volume, dropped in 1Q 2005 after two successive 1Q increases, totaling $421.0
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