Secrets of Finances and Payday Loans

The high correlation between M&A activity and equity market performance clearly shows that M&A was a major driver of the equity bubble of the late 1990s. Sometimes even mergers that did not create synergies were rewarded by rising stock prices on the side of the overtaking parties. It was obvious that not every merger was [...]

But the more cyclical character of the US market and the lower average credit quality of the issuers are not the only reasons that explain the spread differential. Another reason is the different investor base. It was already pointed out that the European corporate bond market is still young, while the US market is well [...]