The credit markets were hit by the dramatic deterioration in Enron's situation this week, having already shown signs of softness as a result of weaker equity markets and profit taking after the recent rally in spreads. Triple-B issuers tapping the euro market had to approach investors with care as, although accounts remain liquid, the temptation to close books for the year is resulting in an increasingly selective investor base. Nevertheless, several corporates are preparing to brave the market.
November 30, 2001
