Investment grade firms up, but market still thin for new issues

By Andrea Heisinger

Omaha, July 30 - Investment grade trading improved throughout the day Monday, according to a market source, but the overall market is still sparse for new issues.

"It felt squishy walking in, but firmed up throughout the day," the source said.

"It's a very thin market for new issues," he added. "We're not going to have any until a few days of firmness in the credit and equity markets."

Things will likely pick up later in the week, the source predicted, as at the moment activity is held back because "people are waiting for hedge funds to blow up."

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