The Bank of America Merrill Lynch Global Broad Market Corporate Index has gained 1.02 percent this year, which Bloomberg says is the best start since 1998. At the same time, the environment for secondary offerings is also quite strong, as equities show no sign of cooling off.

The bottom line is that this may be a great time for companies to raise capital and get their balance sheets in order. Rates are certainly favorable, relatively. The spread between corporates and Treasuries has narrowed a bit. CDS spreads are certainly not predicting anything dire ahead. A lot of companies are taking advantage of this. The best performing company in the Bank of America Merrill Lynch Global Broad Market Corporate Index has been AIG. 

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