Hold-up in bank issuance — duration uncertain

The European financial institutions bond market turned bearish this week, and there have been no substantial new issues. Opinion was split between those who believed that, after the steady stream of deals in the last few weeks, the summer break had come early, and those who thought the situation was a more realistic reflection of the long-term market. EuroWeek on Friday will gauge market sentiment this week and cover the taps issued this week.