IDA
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SEC exemption 'crucial' for IDA with spreads to World Bank and other tier one SSAs to converge over time -
◆ IDA sells first dollar Global benchmark, 'good deal' ◆ Rentenbank struggles to cover 10 year book ◆ Demand for long-dated dollar paper wanes
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Bloc steals focus in euro market this week as World Bank's IDA brings SEC-exempt debut in dollars
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Treasury expert will start internal transition before taking charge after summer
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World Bank breaks 10 year dollar records while IDA adds another point on euro curve
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◆ First dollar benchmark from World Bank since October 2025 ◆ 'Remarkable' size and spread achieved ◆ IDA jumps through hoops to issue SEC exempt deal
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◆ IBRD trying to 'push out duration' ◆ Timing of further dollar deals discussed ◆ Euro investors favoured 25 year over 30 year
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◆ Pricing comes significantly through EU ◆ 'Surprising' French interest in book ◆ Fast money deterred by odd tenor
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Global head of funding Andrea Dore on this week's sterling and dollar transactions
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◆ IDA prints 'rare seven year' and gets big demand ◆ IDA premium debated ◆ KfW targets 'popular' short end
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◆ Lack of supply a factor ◆ Slim premium paid ◆ Domestic accounts accustomed to Gilt volatility and headlines
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◆ CAF record breaker as bond 'flies' in secondary ◆ IDA unscathed by recent volatility ◆ Investors and issuers both favour seven year segment
