What to Watch in European Credit Markets This Week
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Good morning. Here’s what we will be watching this week:
The pre-Christmas slowdown has arrived, with almost 70 percent of respondents in Bloomberg’s weekly issuance survey suggesting European volumes are unlikely to rise above 5 billion euros ($5.7 billion) this week. While wider uncertainty has been dampening issuance, during the same week last year borrowers sold just 2.4 billion euros, according to data compiled by Bloomberg. With year-to-date issuance almost 11 percent behind where it was this time last year, this marks the last opportunity to catch up.