The twin influences of the pandemic and the EU continue to form the size and shape of its biggest bond market — that for government debt.There are signs that the spike in bond issuance driven by the pandemic will start to fall now the recovery is underway. But it’s not all about supply and demand with public debt such a hot political issue within the EU.As the pandemic took its toll, the more frugally minded member states had to pause their demands for fiscal prudence. They’re back on the case now — with one very large, notable exception — and are pushing for what they argue will be a more responsible approach to borrowing and spending.On this week’s podcast we ask how that and other political spats across the EU from west to east are dictating the path of the government bond market.