Capital-raising in the international financial markets continued to be strong during the second quarter of 1992, although new issues fell back from the record amount registered in the first quarter. New issues in the international bond markets were stimulated by low and falling dollar interest rates. There was also renewed interest in floating-rate debt and new issues of floating-rate notes (FRNs) were higher than at any time since 1986, reflecting favourable swap rates and an upsurge in borrowing by banks.
Published on
01 September 1992
Financial market developments