Among the sovereigns, Bahrain has experienced a very strong comeback, driven by both investor demand and short covering by dealers, according to Invest AD’s Middle East and Africa markets outlook. In a market where most bonds have moved up between 0.50 and 1.00 points, Bahrain 22s rallied from 99.50 a couple of weeks ago to trade around the 102 mark – indicating that investors continue to look at the bond to add risk.
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