Public supply is slowly returning to the bond market as issuers come to terms with the volatility that is wreaking havoc on the market. Although conditions may appear calm, uncertainty is still high. The iTraxx Europe main index of credit default swaps remains elevated, closing at 95bp on Monday — having spent the last two weeks hovering around a year high. Meanwhile, swap rates have gyrated violently in recent weeks with intraday moves in the double digits. And while these moves have...