Volkswagen’s €9bn book shows corporate bonds in rude health

A burst of deals on Thursday showed Europe’s corporate bond market is in full vigour, despite a sea of gloomy political and economic headlines. The Christmas hiatus in issuance was ended by Danone and Daimler on Wednesday, but the market hit its full stride on Thursday when Volkswagen issued €3bn and ArcelorMittal, a double-B credit, €750m.