Eurobond syndicate practises - Transparency or skulduggery?
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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