For a market so well supported by central bank bond buying, there have been some strange dynamics at play in European corporate debt of late. In some corners of the market, deals have struggled and yet just this week a borrower brought a deal in the sort of size you would normally expect to see in a busy September, not while everyone is supposed to be at the beach in August. The monster order books of just a few months ago seem to be a thing of the past and yet businesses pummelled by the pandemic are printing bonds with record low coupons. What is going on and what does it mean for when the market gets busy again in the autumn?