Thursday 10 December 2015

Gulf Bonds Under Stress as Lower-for-Longer Oil Outlook Sets In - Bloomberg Business

Gulf Bonds Under Stress as Lower-for-Longer Oil Outlook Sets In - Bloomberg Business:

"The prospects of an extended decline in oil prices and higher U.S. interest rates are putting fresh strain on debt markets in the energy-rich Persian Gulf.
Bond losses in the Middle East accelerated in November, with prices dropping the most in two years, according to JPMorgan Chase indexes. The decrease came more than 16 months after crude began sliding from $115 a barrel to about $40 on Thursday. The yield on Qatar’s 2017 bond is up 41 basis points over the past month, while Bahrain’s 2023 paper rose 53 points. Fitch Ratings Ltd. downgraded Bahrain’s outlook to negative on Dec. 4, affirming the island kingdom’s BBB- credit rating at one level above junk. "



'via Blog this'

No comments:

Post a Comment