No let up for banks as crisis takes a turn for the worse

Just when people began to think nothing could derail the financial institutions market’s recovery, the sovereign debt crisis hit the FIG market hard. After initially appearing resilient, it finally capitulated and issuance, whether senior or subordinated, fizzled out. Hélène Durand looks at what is in store for the rest of the year and how financial issuers are facing up to the turmoil.