Corporates fall back on euros in 2011 stress

The euro-denominated share of annual European corporate bond issuance fell to below 50% in 2011 for only the second time since the single currency was created. But contrary to some reports, this does not appear to have been the result of funding stress in the euro market. Analysis by EuroWeek suggests that European firms in fact relied more heavily on their home markets amid increasing disruption towards the end of the year.