Are volumes likely to be lower this year
Tao First of all, compare last year's volume to the year before and it was a 10% drop. And I really don't think there will be a substantial pick-up in loan volume this year vis-à-vis last year. My hope is that intra-Asian MA activities may drive volumes.
Will there be a lot of sovereign borrowing
There may be more sovereign activity this year. Thailand was rumoured, for example.
A lot of countries have rebuilt their foreign exchange reserves and feel they are in a position to source some financing at pretty good rates.
Is the India...