BBVA has hired a former MTN banker at Santander as a director in its liability management team.

Issuers and syndicate desks were split over whether the African Development Bank’s inaugural Norwegian krone bond — the first ever social bond in the Norwegian market — could pave the way for further social issuance in the sector.

A reverse enquiry was the catalyst behind KfW’s decision to print its first Swedish krona note of the year on Wednesday — one of the largest krona deals issued by the German agency.

An attractive Scandinavian market led two European sub-sovereigns to print private notes this week.

The Federal State of Saxony-Anhalt issued its debut Norwegian krone bond on April 1. The treasury was pleased with a successful private placement that could open up a new funding market for Saxony-Anhalt.

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.