More and more dealers are coming back into the euro-commercial paper market which several of them quit almost a decade ago due to thin margins and low volumes. CSFB, Merrill Lynch and Morgan Stanley have returned to non-dollar CP to compete with firms like Citibank, Barclays Capital, Deutsche Bank, JP Morgan, NatWest, Goldman Sachs, UBS Warburg, and Lehman Brothers which stuck at it through the 1990s. The attraction is in potentially fast-growing volumes now that the single currency has removed many of the artificial barriers between national commercial paper markets and the international market that operated out of London.
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