Tender rejections off to strong start in 2021

Due to its calculation and presentation as a seven-day moving average, OTVI remains distorted by the New Year’s holiday. However, even in its trough, we can compare year-over-year (y/y) growth. On an adjusted basis after removing the influence of higher year-over-year tender rejections, contracted tenders are up 13% y/y — a solid start to the beginning of the traditional slow season. 

This year is unlikely to see the typically slow season. In fact, with the likely passage of a $2 trillion...

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