World Bank

Borrowers and their dealers are increasingly nervous about issuance in the first quarter of 2012 as faith in the ability of the European policymakers to reach an accord before the traditionally busy opening in January diminished ahead of the summit on Thursday.

Responding to reverse enquiry from US investors, the World Bank issued only its second Norwegian krone global in almost a decade on Tuesday. Stateside buyers took as much as 85% of the Nkr1bn ($178m) three year deal, with European investors accounting for the remainder.