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 [...]

The assessment of the macroeconomic environment results in a judgement of the stage of the business cycle and the leverage cycle. Valuation indicators help to form an opinion on the future direction of credit spreads. However, the magnitude of a change in spreads essentially depends on the market structure, especially the average credit quality and [...]