 For most of the 1990s the Euroyen market has been a shadow of its former self. The primary market hit a spectacular low in 1998. From $55.1 billion worth of business in 1995, Euroyen issuance for 1998 was only $19.3 billion. The market continued to languish in the first half of 1999, only to be revived in spectacular fashion towards the end of last year by a string of supranational deals spearheaded by the Inter-American Development Bank. |
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