Bonds, convertibles drive quarterly underwriting

Newswire

By Brian Kelleher NEW YORK, June 27 (Reuters) - Wall Street bankers again relied on bond sales to fuel underwriting growth in the second quarter, but the hottest sector was convertible offerings, which flourished thanks to low interest rates and improving equity markets. Total second-quarter global debt and equity underwriting volume -- everything from high-yield, or "junk" bonds, to initial public offerings -- rose to nearly $1.3 trillion from $1.1 trillion in the year-ago period, ...

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