Global underwriting volumes stagnate

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The release of the latest bookrunner league tables has revealed that the total underwriting volume of debt, equity and equity-related securities slipped during the third quarter. Wall Street recorded global issuance of $1.24 trillion, down from $1.26 trillion during the third quarter of 2003, according to Thomson Financial. Yet while overall performance during this period was mixed, areas of the credit market held steady and even showed signs of growth.

Global debt, which includes mortgage-

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