World Bank has raised funds in Nigerian naira for the first time since March 2014. The one year clip comes in spite of rumbles of a potential currency devaluation.
Emerging market currencies appear to be back in fashion with medium term note investors this week, after supply had weakened in early February from a strong January start.
A rally in Japanese equity prices on Monday led to a friendlier tone in public bond markets than has been seen in recent weeks. Medium term note bankers fear that will shift attention away from their market.
A difficult start to 2016 has led public markets looking subdued at best. Issuers and investors alike are turning to the private placement market to get deals done.