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◆ How US tariffs will affect bond issuers in the medium and long term
◆ Liberation Day: your funniest quotes 
◆ A funding update from KfW's head of capital markets, Petra Wehlert

US president Donald Trump's imposition of a vast swathe of tariffs on imports bludgeoned stock markets this week and proved the stuff of nightmares for investors as they contemplated the possibility of recession and the return of inflation.

But the reality for the bond market will likely be rather more nuanced. We picked our way through Europe's investment grade corporate and financial institution bond markets to see what "Liberation Day" will mean for credit issuers' immediate deal pipelines and the longer term.

We also discussed the ramifications for the many varied economies and borrowers in the CEEMEA region as we followed the trail of cause and effect from the Oval Office to South Africa and Romania, and via China to Nigeria and Saudi Arabia.