March 24, 2020 / 9:53 AM / 8 days ago

Gulf bonds post gains on global market rally

DUBAI, March 24 (Reuters) - Gulf government dollar bonds posted gains on Tuesday as global markets rallied as investors bet the U.S. Federal Reserve’s promise of unlimited dollar funding would ease strains on financial markets even if it could not stop the economic hit of the coronavirus epidemic.

At 0940 GMT, Saudi 30-year dollar bonds due in 2049 were up 3 cents, Refinitiv data showed. Similar bonds by its oil giant Saudi Aramco were up 2.3 cents.

Bonds by Abu Dhabi, seen as one of the region’s strongest credits, maturing in 2047 were up 1.6 cents, while Qatar 30-year bonds due in 2049 were up 2.8 cents. Thirty-year bonds by Oman, one of the region’s weakest credits, due in 2048 were up 0.5 cents.

Reporting by Yousef Saba; Editing by Alison Williams

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below