Refinancing activity drove new issue spike, even as defaults rise
Effects likely to be focused on weaker, low-rated issuers
Market reaction to geopolitical events often proves overblown
Defaults, delinquencies poised to rise for rate-sensitive borrowers
Bond issuance up, driven by accelerated refinancing
North American corporate credit quality declines led by high yields
Strong debt issuance, M&A expected to be revenue drivers in the quarter
Both equity and debt issuance rises in the first six months of the year
U.S. corporates' interest coverage continued decline in Q1
The decline is the first drop in a year, S&P says
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