KKR, Philips and Vesteda hope euro funds hold their nerve

The strength of corporate bond demand, after falls in stockmarkets engendered by the US's hardened stance on trade talks with China, was tested in the US on Wednesday by a $20bn issue for IBM. In Europe, the test came on Thursday, as five companies finished roadshows and issued. So far the signs are very encouraging - good news for the clutch of companies still on the road.