TMT Q1 Review by Jefferies

This document provides a quarterly review of equity capital markets activity for the technology, media, and telecommunications sector in early 2009. It describes the market environment as consisting of negative sentiment in January and February followed by cautious optimism in March. Current trends in new issues included initial public offerings gaining momentum, convertible markets reopening, and continued strong structured equity activity. The quarter saw a mix of small deals and some larger speculated mergers and acquisitions, which could drive future financing demand.