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Good old fashioned contagion has led the worsening situation in the Turkish market battering the rest of emerging markets this week as a plummeting lira and spiking Turkish CDS levels spooked buyers across CEEMEA and Latin America. Even western Europe has been feeling the heat as investors start to fret about Turkish exposure.

The Turkish lira rebounded strongly on Tuesday morning in London while sovereign CDS rallied 40bp — but investors are still calling for more action and concerns remain high that without a big rate rise from the Turkish Central Bank, the selling will shortly resume.

Berlin property company ADO Properties had planned to issue its second corporate bond in recent weeks, following a successful investor update. However, a high profile bribery case in Israel has put the deal on hold for now.

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Each of the first three days of this week saw a jumbo bond deal in the US corporate bond market, but the volume of other deals dwindled as the week progressed, and Thursday struggled to achieve $1bn of issuance.

The second deal in two days from a Volkswagen entity was never expected to hit the heights of the triple-tranche euro deal the day before. However, Thursday’s sterling trade still received a very strong response from investors.

The Canadian province of Quebec has mandated four banks, including two international firms, to underwrite its first bond in China, a finance official at the provincial government told GlobalRMB.

Volkswagen Leasing took advantage of the positive tone in the quiet corporate bond market to build a huge order book for its €2.5bn triple-tranche offering.

August is traditionally a slow month in the corporate bond market as the common perception is that many market participants are away from their desks enjoying their summer holidays. But recent deals have shown that investors are around, and are willing and able to buy.

The investment grade corporate bond market started August with a pair of transactions that supported the positive tone of the market. Primary market participants are still in positive mood, but are yet to see any further deals announced.

Portugal will need to disclose more information about its finances to proceed with its planned Panda bond issuance in China, according to a document published on the regulator’s website but later pulled.

South Africa state-owned utility Eskom’s return to the international bond markets on Thursday was hailed as proof of the faith investors have in Cyril Ramaphosa, the country's president. And it could well mark the beginning of the country’s rehabilitation in the debt capital markets as Eskom is widely thought of as South Africa’s biggest and most public financial problem. Francesca Young reports.