How does it feel to be a bond analyst when it seems like every other newspaper headline trumpets more bad - and unexpected - corporate news? "You go into the ring fully prepared and properly trained. But there are only so many blows to the head you can take. That's what these markets feel like at the moment," explains Gary Jenkins, who heads global investment-grade research at Barclays Capital in London. During the past year Jenkins has had to absorb a few jabs in Europe's fixed-income markets.