If there's one thing equity capital markets bankers are good at, it's giving a view.
They're paid to get on calls and give a short and sharp update on wider equity markets and deal conditions; the US market, Australian market and Australian deals.
Add some colour about a recent deal or two, and that's their view done. It's back to chasing flashing lights.
The consensus view at the moment is that markets are tricky. Raising for a top-100 company is much easier than an ex-100 name as fund managers look for quality businesses, quality earnings and liquid stocks. They don't want to be trapped should conditions worsen.
oOh!media bucked the trend though, thanks to the support of a major shareholder, and gave hope to other ex-100 stocks struggling with the economic downturn and heavy debt loads.