The Mumble: The SSA crystal ball is more clouded than ever

How 2013 will pan out in the capital markets is too tough to call. At the end of last year there were plenty of doom merchants predicting all sorts of disasters. There was justification for it and some things did go badly — especially at UBS. But plenty went right from the bumper first quarter, to many more blowout deals than dogs and with most issuers able to wrap up early for the year.