Go to the Securities Industry and Financial Markets Association website at www.sifma.org and find the most recent data on U.S. corporate underwriting activity using the following steps. Click on “Advocacy & Resources”

and then on “Research & Insights.” In the search bar, type “Fact Book.” Click on the latest fact book, and use its Table of Contents to find data on U.S. corporate issuance.

Questions 1 What is the most recent level of total U.S. underwriting activity?

2 What is the distribution of underwriting by type of security underwritten (e.g., straight corporate debt, convertible debt, etc.)?

3 How has the distribution of underwriting activity changed since 2018, as reported in Table 16–6?

AppendixLO1