AfDB joins dollar party but can the fun last?
The African Development Bank (AfDB) this week became the latest public sector borrower to enjoy the red hot dollar market, printing a trade that drew an order book larger than its entire 2012 funding programme. Widening swap spreads have been a major factor in the dollar market’s fantastic run this year but a double whammy of event risk next Wednesday could bring it shuddering to a halt, writes Craig McGlashan.
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