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“Forget the shorts”, as FT Alphaville noted on Friday. Company and financial bond issuance has virtually collapsed in Europe in recent weeks amid fears over the eurozone’s public debt problems and US financial reforms.
As the FT reported on Monday, the market for new issues effectively shut down after Germany spooked investors with its decision to slap a ban on naked short selling. New issues from companies and banks fell to $1.1bn last week, the lowest of the year, according to Dealogic. Read more