A strong Swedish market led the City of Stockholm to place its first private trade of the year on Monday. The Skr2.5bn ($268.4m) note was its largest non-syndicated issue since 2012.

It was all going so well, until it wasn’t. After a strong run for Turkish borrowers in the capital markets, news of tumbling central bank reserves sparked an investor exodus and hasty action aimed at supposed short sellers in the foreign exchange market this week. While some emerging markets old hands expect things to blow over after the country’s local elections on Sunday, any surprises there could become catalysts for a deeper crisis.

A trio sovereigns went to the MTN market over the past week, including Italy, which issued a yen bond for the first time since 2009. The deal, led by Nomura, was also its first issue in a foreign currency since 2010.

As the first quarter of 2019 comes to a close, the International Finance Corporation is taking stock, to inspect its funding needs. It is well-funded, and looking to only print on the private market to meet its targets.

Ireland is eyeing a benchmark linker after a successful private placement on Tuesday.

Italy has issued a yen bond for the first time since 2009. The deal, led by Nomura, is also its first issue in a foreign currency since 2010.

Ireland raised €300m through an inflation-linked bond in the private market on Tuesday. The note is Ireland’s second of this type, after a €609.5m private placement in April 2017.

The State of North-Rhine Westphalia sold its first century bond on Thursday via the private placement market, and is open to the possibility of bringing a syndicated deal in the tenor.

A Munich-based banker at UniCredit has made an internal move from MTNs to the syndicate desk, covering SSAs and covered bonds.

The International Development Association is preparing a short-term borrowing programme that the issuer told GlobalCapital will be similar in form to the commercial paper offerings of its peers the European Investment Bank and KfW. A second benchmark — likely to be in sterling or a niche currency — or a debut private medium-term note could follow, the borrower added.

GlobalCapital understands that the Spanish government has approved requests from the Balearic Islands and Castile and Leon to issue new debt. More approvals could follow “in the next few weeks” for the Basque Country and Galicia, according to a DCM banker based in Madrid.

Natixis has made some internal changes to its MTN team, after the desk’s global head Elsa Martin took on a new position within the bank.