Kingdom of Saudi Arabia’s new 30 year bonds – what a ride!
16 November 2016
For those of you following the GCC fixed income markets the chart below illustrates the degree of volatility we have seen in recent days on the new KSA 2046 bonds – quite a ride to say the least.
The chart below that shows the price movement in the 30-year bond issued by the Kingdom last month. As the US election result was out on November 8, the bond suffered a heavy sell-off, in line with what we have witnessed globally. However, with markets stabilising in last two sessions, buyers emerged as investors viewed the KSA 46s as oversold. Watch this space…
Chavan Bhogaita, Head of Market Insights & Strategy
NBAD Global Markets