Merkel and friends hold keys to corporate bond market

19 Jul 2011

Negotiations behind closed doors on Wednesday over rescuing Greece will be crucial in determining the mood in European corporate bond markets for the next few weeks. Few expect a full solution to the Greek debt crisis at Thursday’s meeting of EU leaders, but substantial progress would be enough to cheer investors and enable issuance to resume.

Wednesday is the crunch day for officials to thrash out a deal, hoping to bring German chancellor Angela Merkel to the table on Thursday.

If there is little or no advance on Greece this week, it is likely markets will remain depressed, and there will be a mere trickle ...

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