International debt issuance hit by market turmoil: BIS

Turbulence in global financial markets caused a sharp drop in the number of international debt securities issued in the third quarter, the Bank for International Settlements said.
Bonds and notes worth 396 billion dollars (270 billion euros) were issued between June and September, less than half the amount issued in the previous quarter, the BIS said in its latest report to be released Monday.
Issuance was also down four percent on an annual basis, the first year-on-year decline for the first time in two years and in contrast to an average seven percent growth rate since 2003, said the BIS, often called the 'central bank of central bankers'.
Borrowing in euro-denominated bonds and notes was hit hardest, down nine percent year-on-year at 90 billion dollars, while dollar-denominated issues showed zero growth and sterling just two percent.