What to Make of the Credit Cycle. Part 8. (Long Yield, Baby. Yield)

A. M&A is En Fuego

PwC released an analysis of M&A activity. In summary:

The number of deals north of $5 billion is on pace to double last year’s total, and to date has driven overall deal value up by more than 50%, according to a PwC analysis of Thomson Reuters data. Deals are also getting bigger, with more announced deals of at least $30 billion so far …