Dollar market no longer just a short term option for SSAs

Thanks to negative yields in euros, the level of demand for new issuance at the shorter end of the SSA market in dollars has shocked even the most prolific borrowers. It’s not just been at the short end either — the World Bank and KfW generated a combined $14bn for their $5bn trades in May — prompting some to remark how mature the dollar market has become. Philip Moore reports.