The European investment-grade corporate market had its best week since the global outbreak of the coronavirus as fears around liquidity began to dissipate. In total, 16 issuers raised more than €20bn across 29 tranches last week. That compared with just two deals the week before, from Engie and Unilever both on March 20, which raised a combined €4.5bn. With a shut-out on March 23, it seemed like another volatile week lay ahead. But after the Federal Reserve upped the ante in its bond-buying programme that same day, complementing similar efforts from the ECB, sentiment became much more positive.
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