Financial Printing Outlook -- Clawing Their Way Back

In the capital markets, the industry's market size reportedly fell from $1.6 billion in 1999 to $1.1 billion in 2001. In that same time frame, IPO demand fell from 544 to 132. In 2002, the capital markets business has seen an even greater decline, with a total market size of just $900 million. Overall, deal flow in the market has decreased, with SEC filings down 11 percent from the previous year, including a 16 percent drop in M&A business and a 13 percent decrease in secondary deals.