Over the last eight years the ECB, through its Asset Purchase Programme, has provided an era-defining bid for euro-denominated bonds, making the currency a natural choice for European benchmark bond issuers looking for where best to fund.

As QT replaces QE in Europe and geopolitical pressures drive a search for security a US dollar bond market offering term interest rates not seen for over a decade has become increasingly attractive for investors – and borrowers.

“We’re at a turning point in terms of funding,” said Petra Wehlert, KfW’s head of...Read more