“Company bond sales have ground to a halt in Europe, with August poised to end without a single offering as the sovereign debt crisis drives borrowing costs up by 40 percent.
“When spreads are moving so quickly, it’s very difficult to see clearly how to price new issues,” said Olivier Casanova, the head of financing and treasury at PSA Peugeot Citroen in Paris, which last sold bonds in euros on June 15. “Conditions are very volatile.”"
- Other news, headlines and opinion:
European Banks Criticized Over Greek Writedowns and Regulator stokes fears over European bank capital
Japan public fund’s assets drop sharply in April-June
Bank of Italy warns weak growth could hit debt plan
ECB spent $9.6 billion last week on govt bonds
United States Postal Service Hopes for Federal Help as Debt Grows
Central Falls receiver cutting pensions further
Back to school blues: 800 workers to get pink slips on first day
Report says nation lost 2,000 mortgage jobs so far this year
New cuts to health services for the poor take hold in October (NC)
European Economic Confidence Falls Most Since December 2008
Trichet says growth in Eurozone could be weaker than expected
Canadians carrying debt longer than expected: poll
Revised Canterbury quake bill exhausts disaster fund (NZ)
Wealthy Use Auctions to Sell U.S. Mansions as Homes Languish on the Market
Disruptions to Food Supply to ‘Ratchet Up Prices,’ Olam’s Verghese Says
Noda Faces Short Honeymoon in Drive to Increase Taxes After Succeeding Kan (Japan)
China Faces Dwindling Labor Supply
Fed’s Evans favors strong policy accommodation
Italy struggles through first debt sale since ECB buying (Video)
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