The Financial Post reports in its Wednesday edition that investors' interest in non-risky assets seems to be muted. The Post's Barry Critchley, writing in Off the Record, says that is one interpretation behind the less-than-stellar performance of two equity offerings launched after market close Monday. At the close of trading Tuesday the two equity financings -- a $750-million offering by BCE and a $104-million secondary offering by Cara Operations -- were struggling, with only Cara's offering fully sold. The closing share price of the two issuers was below the selling price of the two equity financings. Mr. Critchley says that one explanation for the tepid response is that investors were not offered enough of a discount to purchase the new shares. BCE's discount was 90 cents a share (1.5 per cent) on a $58 stock. While BCE's deal was something of a surprise, Cara Operations' secondary offering, carrying a discount of 2.8 per cent, probably was not. The number of Cara Operations shares being offered up, relative to the average daily trading, may have caused some indigestion. Cara trades only 36,000 shares a day. By Mr. Critchley's tally, that means investors were being asked to absorb 83 days of trading in one day.