MTNs pause as credit conditions worsen

Vanilla MTN activity fell prey to poor market sentiment at the start of this week, while the long-dated yen and Uridashi markets proved to be the only structured sectors to show signs of life. But with execution of callable dollar products highly responsive to changes in yields, there is still time for a burst of deals that could brighten the picture. Read EuroWeek on Friday for a run down on the latest transactions and reaction to the evolving environment.