The number of corporate bond issues in Europe for the year to date reached a 10-year low, according to Dealogic, the data provider, as banks and their investors say the strong run of big deals in the last two years is over.
The timing could not be more significant. On December 13 the European Central Bank announced it would end its $3tn stimulus programme. The programme has supported the market significantly: the ECB has acted as a large buyer of corporate bonds since 2015.
