As financing conditions stay tight, repeat offenders elevate defaults
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
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