Euro corporate bonds dry up

European banks sold $11.7bn (£8bn) of corporate bondS in the last six weeks to Friday – less than a tenth the amount they sold this time last year, according to Dealogic. They have raised less from mainstream capital markets in this period than in any time since 1995. Banks are also said to be under pressure from regulators to lengthen the average maturity of their debt, in order to lessen reliance on risky short-term funding markets.