Saturday, January 5, 2008
The New York Times has the numbers on the volume of securities underwritten by investment banks globally in 2007, compared with 2006. The total volume of underwritten offerings fell 40% in the fourth quarter of 2007, to $1.3 trillion, from $2.2 trillion in the fourth quarter of 2006. The decline was the worst in asset-backed securities (down 75%) and mortgage-backed securities (down 66%). NYTimes, The Appetite for Securities Turns Less Hearty.