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More than two-thirds of U.S. state economies strengthened in Q4.
Germany leads opposition to greater expansion of firewall.
While offerings lag, backlog of U.S. deals is sizable; Facebook could trigger rebound.
Low borrowing costs elicit $430 bln of corporate issuance.
Biggest U.S. plans see funding shortfall swell 41%; pension-related charges hit $38.3 bln.
Temporary increase above $1 trln gives Germany political cover.