The European high yield market has been shut for almost a month now, but this week central banks' synchronised move on rates might have given borrowers a glimmer of hope. 

According to a sell-side source, investors could see two HY deals coming to market next week. Both are expected to be BB names — one refinancing (plus some new money) and the other dependent on market conditions.

Another BB HY refi is expected the week after, with a single-B name that could land in the market at the end of the month to raise new money.