As corporations started to recover from the financial crisis, trends such as spin-offs, Chinese IPOs and high-yield bonds drove 2009’s healing equity and debt markets. According to Thomson Reuters, global stock and bond issuances increased 30 per cent from approximately US$4.9 trillion in 2008 to US$6.4 trillion in 2009, but were still lower compared to the levels seen in 2007 (approximately US$7.6 trillion).