Eurobond syndicate practises – Transparency or skulduggery?

Some investment banks in the euro bond market are pushing for underwriting syndicates to disclose their order books. On the surface, it's a technical debate about how to organize bond deals. Underneath, it's a fierce clash about different banks' competence. The argument polarizes US and European firms. Marcus Walker hears the claims and counterclaims, and how the internet might lead to an unexpected solution