Last year was an interesting year for MA with $107 billion of issuance. Will this year be better or worse
I think last year set the floor. The market this year will be either as good or better. I see what the backlog of deals looks like in our own pipeline - the pipeline is there, the question is, will the deals close. I think they will.
I also think MA, like any other investment activity, is highly correlated to growth rates. And we' re counting on a US recovery in the second half, so that should mean more MA.
Do you think there is a correlation between MA activity and...
