Azure CloudBlobClient.ListContainers() returns 400 for DevelopmentStorage

Question

Am just running some experiments with CloudBlobStorage using the Development Storage Account, and while VS2013 Server Explorer can enumerate Blob containers just fine, my code returns a 400 error.

Not sure what I'm doing wrong here, and I've searched high and low.

var account = CloudStorageAccount.DevelopmentStorageAccount;
var client = account.CreateCloudBlobClient();
client.ListContainers().ToList();  // throws StorageException with 400 error

Note: If I call GetContainerReference() against a container known to exist it returns correctly.