Inter-American Development Bank IADB

The dollar market had largely failed to impress this week, providing only a single dollar benchmark. However, one Washington supra changed that with a remarkable $4bn deal on Thursday.

This week's scorecard reveals how far progressed supranationals are in their 2018 funding plans as we hit the middle of February.

A wave of Mexican corporates swapping the proceeds of dollar issuance back into their home currency has tilted the peso-dollar basis swap, benefiting those that can issue in pesos and swap back into dollars.

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Public sector borrowers are finding funding conditions beyond their wildest dreams, with not just last year’s staples of dollars, euros, sterling and Australian dollars on offer across the curve but the Canadian and New Zealand currencies coming into play too.

World Bank issued a rare benchmark Canadian dollar bond this week, raising C$1bn ($802m) with a sustainable development deal in a strong week for niche currency sales from SSA borrowers that also included several Australian and New Zealand dollar deals.

The Inter-American Development Bank provided further proof on Wednesday that there is deep demand at the five year part of the dollar curve — but another supranational is stepping up to test the long end of the currency for the first time this year.

The European Investment Bank on Tuesday produced its largest dollar deal in nearly three years — and its biggest book in even longer — in what bankers said was a clear signal of the strength of demand in the currency. The Inter-American Development Bank is next up in dollars, and more supranationals could still enter the fray this week, with supply expected to keep at a rampant pace until mid-February.

It has been an active week for Australian dollars, with the Asian Development Bank and the Inter-American Development Bank both selling in the middle of the curve.

This week's scorecard looks at the funding progress various supranationals have made in their programmes as the end of the year approaches.

Latin America is one of the most promising fields, both for green economic investment, and for green financing. Powerful players in the region’s capital markets, such as national development banks, are supportive, and the range of issuers is spreading, from renewable energy into sectors such as paper, airports and banks. As Oliver West reports, there is good demand from international investors, but what could help even more is to build up the local market.

This week's scorecard looks at the progress supranationals have made in their funding programmes this year.