ido-enabled find-file does not match an existing file name when I yank file name and directory

Question

I enabled IDO mode in my emacs (version 25.2.1, Linux) and now I am trying to open a file.

I am in the directory ~/foo . The file is ~/foo/baz/bar.cpp and it does exist.

I have baz/bar.cpp in my kill ring.

I press C-x C-f , followed by C-y.

The minibuffer shows

Find file: ~/foo/baz/bar.cpp<caret>[No Match]

At this point, if I press (C-f), my "normal" find-file locates the file just fine.

But, why is IDO giving me "No Match"?

More information:

Yanking just the file name (no directory) works fine.

Pressing "Enter" when "No Match" is show leads to another find-file minbuffer, not to a new file creation.