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The first half of 2013 witnessed European high yield issuances at a record-breaking pace, which slowed down in mid-June as a result of market disruptions and a repricing caused by statements by U.S. Federal Reserve Chairman Ben Bernanke, hinting that the Federal Reserve could begin scaling down its $85 billion per month quantitative easing program much sooner than expected.

The US Department of Justice (DoJ) is reported to have launched an investigation into possible antitrust violations in the market for supranational, sovereign and agency bonds...