The debt markets did not look too bad until the third quarter of 2011, when concern about global growth and fear about the failure of European policy-makers to find a decisive resolution plan for the eurozone crisis brought markets grinding to a halt.
Overall, in the first three quarters of the year, global debt capital market volume was relatively flat when compared with the same period last year, falling by just 4%. Then the third quarter happened. In September, activity fell to its lowest monthly level since February 2008.
