THE ECONOMY
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New Issues Surge: Companies in the first half issued 52% more debt and stock than they did a year earlier, according to statistics released by IDD Information Services. It said the financings totaled $249.67 billion, up from $163.82 billion in the first half of 1990. Common stock issues rose 99% to $25.75 billion. The market’s overall performance whetted investors’ appetites for new issues and also created demand for bonds and other debt securities. However, with the stock market having fallen in recent weeks, the hectic pace of new issues could slow in the near term.
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