There was no easing in geopolitical tensions last week, but financial markets seemed more than willing to shrug them off. Equity markets moved to new highs and activity returned to the domestic corporate bond market with both senior and subordinated bond issues appearing. Among the senior debt issuers National Australia Bank (rated AA-) was the stand out.NAB sold a total of A$1.65 billion of 5.25 year bonds. The bank priced $1.4 million of floating rate notes and $250 million of fixed rate notes, with both tranches priced at 82 basis points over the bank bill swap rate.This was the same spread that ANZ priced a five-year, benchmark sized issue just a month earlier. Earlier in the week, NAB sold $625 million for two years, paying 31 bps over bank bills.The Australian branch of UBS (rated A) returned the market after an absence of four years and raised $700 million and $400 million of floating and fixed rate funds at a spread of 95 bps over the swap rate. Wells Fargo (rated A+) followed up its five year issue earlier this month with a 10-year, $200 million fixed rate issue, priced at 110 bps over swap.Westpac (AA-) and ANZ (AA-) were both active in the Euromarket, raising £150 million for one year at Libor minus 1.1 bps, and US$100 million for 1.5 years at Libor plus nine bps, respectively.Toyota Finance Australia (AA-) hit the Uridashi market for multiple tranches of 4.5 year and five year funds.