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Whether investors can look past the turmoil around Greece at a promising growth story was tested this week, as Cellnovo attempted to float in Paris. The test was passed: the IPO was priced on Thursday.

For all the panic in markets that Greece and the Chinese stock plunge have caused, investors are not piling into traditional safe haven, gold.

After a week’s hesitation, Deutsche Pfandbriefbank has gone ahead with its IPO, in a sign of confidence in the market – despite the ever uglier masses of cloud building over Greece and China. If it is completed, the deal will raise over €1bn, and be almost certainly the largest IPO left in the European market before the August lull.

Akbank set a template this week that bankers hope Turkish peers will seek to emulate by closing Turkey’s first standalone three year term loan since 2006.

Hopes remained high on Monday that Chorus Clean Energy would complete its IPO this week, but on Thursday the German solar and wind power plant operator gave up the struggle.

Supranational euro-commercial paper issuance has rocketed up this year, driven by rising yields in dollars and a flight to quality caused by repeated Greek crises, according to traders and issuers in the ECP market.

Plummeting Chinese stocks and a slump in commodity indices rattled Asian markets and global credit traders this week, but loan bankers and emerging market bond officials were unfazed – even while some admitted that the problem could end up hurting their markets.

Block trades made a tentative return to the European equity capital market this week, though bankers had said on Monday that they did not think deals were likely.

Fears that the Chinese stock market bubble has finally burst brought a new wave of worry to credit derivatives trading this week, adding to volatility as Greece concerns took a backseat for the first time in weeks.

Investors have been complaining about a lack of harmonisation across bank capital products for years. But with new loss-absorbency rules putting it more at risk than ever, they appear to have fallen silent.

FIG bankers are expecting US banks to ramp up issuance as earnings season gets underway next week, while European issuers are also eyeing the dollar market.

Credit Suisse and UBS stormed to the top of the bookrunner charts for senior FIG bonds in the first half, but their rivals will be more worried about the dive in overall volumes across the market versus a year earlier.