Corporate bond issuance in Australia increases
Corporate bond issuance in Australia has increased in response to a combination of recessionary conditions and fiscal stimulus packages, according to the Australian Securities Exchange (ASX) March activity report.
The report noted that government bond issuance, both in Australia and other developed economies, had been strong despite it being a market that has traditionally been quite underdeveloped in Australia.
The report showed March 2009 to have monthly rebounds in equity valuations for the first time since the financial crisis accelerated in September last year.
However, the rises were accompanied by greater daily volatility, particularly in the US markets.
Volatility in Australian equity markets rose marginally from recent lows in February, with average daily movements of 1.2 per cent according to the report.
Meanwhile, the number of entities admitted for listing in March dropped to two, down from five last month.
Total listed entities at the end of March 2009 were 2,215, down on the 2,222 a year ago.
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