Five to 12 days of stability needed in European HY

20 Sep 2011

With the European high yield market still facing volatility, new issuance seems at least a week of stability away, say bankers. Some even think two weeks’ recovery are needed before the new issue market can wake up from its summer sleep.

“I get all these disheartening runs from my traders saying ‘the yo-yo continues’ and ‘it feels schizophrenic’ and all these not really reassuring things,” said a high yield banker. “Sentiment just isn’t there to want to put on risk.”

Bankers agreed that the seven year €400m and $400m ...

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