Use your debt lest someone else does

Hope, fear and wonder as a new market opens

Credit bash crowds out Crillon

Pots, plots and fair shares

An oft-cited reason why the European corporate bond market will continue to grow is that the pressure to provide shareholder value will force European companies to leverage up at a time when banks, facing the exact same shareholder pressure, are less keen to lend. At a conference in July, Paul Gibbs, head of mergers and acquisitions research at JP Morgan, attempted to apply scientific analysis to this much-touted link between increased leverage and shareholder value.