US euphoria recedes after record May days.

The article reports on the corporate bond market in the U.S. It states that on May 28, 2008 alone, some $14 billion of new paper was printed. According to the article, borrowers can no longer rely on unflagging investor appetite, and several deals, such as the $3 billion three tranche offering from International Paper and the $2 billion 10s/30s Yankee from Telecom Italia, were obliged to back up pricing from the levels initially indicated.