A new set of data from Thomson Reuters sheds light on blossoming European corporate bond activity.

Here are the main findings:

– European corporate debt totals $75 billion so far during 2012, up 83% over the same period in 2011, and a year-to-date total only surpassed by 2009 in the last decade.  January 2012 saw $48 billion raised, the strongest month since March 2011 ($50 billion).  With a week to go before the end of the month, February issuance is already up 68% over February 2011.

Markets are unimpressed today by Europe finally agreeing to bail out Greece for the second time, with European stocks down -0.6% on the day.

But here’s some encouraging news: Credit Suisse has become less negative on Continental European stocks for the first time in almost two years.

How are hedgies performing this year?

The latest performance data from Nice-based business school EDHEC-Risk Institute shows various hedge funds strategies returned on average 1.46% in January, far behind the S&P 500 index which gained almost 4.5%. Hedge Fund Strategies Jan 2012 YTD* Annual Average Return since January 2001 Annual Std Dev since January 2001 Sharpe Ratio Convertible Arbitrage 2.22% 2.2% 6.5% 7.3% 0.34 CTA Global 0.49% 0.5% 6.6% 8.6% 0.30 Distressed Securities 3.28% 3.3% 10.3% 6.3% 1.00 Emerging Markets 4.55% 4.5% 10.5% 10.7% 0.61 Equity Market Neutral 1.01% 1.0% 4.5% 3.0% 0.16 Event Driven 2.95% 2.9% 7.8% 6.1% 0.62 Fixed Income Arbitrage 1.33% 1.3% 6.0% 4.4% 0.46 Global Macro 2.05% 2.1% 7.0% 4.5% 0.68 Long/Short Equity 3.36% 3.4% 5.3% 7.3% 0.17 Merger Arbitrage 1.03% 1.0% 5.4% 3.3% 0.43 Relative Value 1.95% 1.9% 6.4% 4.8% 0.51 Short Selling -6.85% -6.9% 0.3% 14.1% -0.26 Funds of Funds 1.65% 1.7% 3.6% 5.1% -0.07