Primary markets buoyed by bumper summer
Strong supply levels during August have forced a reappraisal of new issuance estimates for 2006, but an increasingly attractive syndicated loan market may counteract this trend
New issuance in Europe since the primary market reopened after the summer hiatus is setting a course for EUR110 billion by year-end. So far this year five individual months have posted volumes in excess of EUR10 billion each. Yet forecasting fourth-quarter issuance levels is still a tough call to make, say strategists.
August's issuance this year was higher than it has been for the past five years, with EUR5.7 billion of non-financial bond supply. And with September traditionally one of the
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