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New issuance record of $6.9 trillion in 2003

The bond markets set a record with $6.9 trillion in issuance during 2003, breaking the previous record of $5.4 trillion set in 2002.

Corporate issuance rose 13.9% in 2003 to $743.6 billion. High yield bonds were the greatest single contributor to the growth in the corporate sector posting $122.9 billion in volume, a 113.6% climb over the 2002 total of $57.5 billion.

Micah Green, president of the Bond Market Association, is confident that "given the current rate environment and continued low inflation," there is a positive outlook for bond issuance in 2004.

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