As the global recovery from the financial crisis continued throughout 2010, initial public offerings and high yield bonds in developed markets as well as emerging markets drove the market in 2010. According to Thomson Reuters, global stock and bond issuance fell slightly from US$6.4 trillion in 2009 to US$6 trillion in 2010, still lower than the levels seen in 2007 (approximately US$7.6 trillion) but significantly above the US$4.9 trillion in 2008.