High-five for credit

Introducing our fifth anniversary coverage, Philip Moore reviews the defining moments of the European credit market from the birth of the euro to the evolution of the indices such as iTraxx.

The forecast that appeared in the inaugural edition of Credit in February 2000 could hardly have been more accurate or timely. “Corporate Europe will continue to undergo significant upheavals, and we expect the corporate landscape to transform itself more aggressively over the next several years than at any time in post-war history.” That particular forecast came from Salomon Smith Barney (as was). But by February 2000 it was generally recognised that a powerful cocktail of