PMM: Issuers precise on pricing, but some suffer higher concessions

Revi/Jarp - stock.adobe.com

Finely tuned pricing was the order of the primary market last week, with a drop in volatility leading to a decline in average movements from initial price thoughts. But despite the VIX falling to its lowest level since February 2020, there were still signs of price sensitivity — and average new issue concessions grew in the most affected markets.