The release last Friday of an unprecedented level of balance sheet data, including details of sovereign holdings, by European banks as part of the European Banking Authority’s stress tests has had little effect on sentiment in the senior unsecured FIG market, said bankers on Monday morning.
A lack of decisive action on Greeces
sovereign debt situation, coupled with the prevailing view that the results of
the EBAs tests are irrelevant as they did not involve a Greek default, are
stopping issuers from even considering selling senior debt, said market
No news is generally viewed as bad news