| April and May brought a touch of frost to Europe’s corporate bond market. The market blossomed in 1999 with record issuance by European companies eager to tap the new liquidity of the eurozone. However, the spectacular increase in gross issuance last year has not continued in 2000. The year began with volumes down modestly compared with last year. Then in April the market suddenly went quiet. For several weeks after the Easter holidays investors seemed reluctant to buy any bonds issued by European companies. |
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