Global debt capital markets supply fell by 4% in 2002 on the back of a 20% decline in corporate bond issuance volumes, according to figures from Dealogic, the data provider.

The volume of bond issues by investment-grade companies declined to $1 trillion (€954bn) in 2002, from $1.3 trillion a year earlier. A similar fall in high-yield bond supply drove volumes in the market down to $69.6bn from $87.2bn in 2001.