The European equity-linked market is in desperate need of some jumbo deals from the telecoms or technology sectors in order to kickstart issuance, which has dramatically slowed in the past few months, according to a report by BNP Paribas.

The report, compiled by Inderjit Bedi, head of convertible bond research at the French bank, argues that a fall in volatility in the past few months has dissuaded traditional issuers from tapping the equity-linked market, dragging down overall issuance volumes and returns on convertibles bonds.