European deal volumes are expected to meet year-end targets, if not surpass them, especially as October turns out to be the busiest month on record in Europe, with EURO19 billion. The market is on target for breaking the $100 billion in issuance and the pipeline continued strong throughout November and is expected to continue to be strong at least into the first two weeks of December.

And out of the wings to add more bulk to the year are the large CMBS for British Telecom (BT) and the EURO3 billion lottery securitization for the Italian government, who last week began marketing their packages.

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