Oil Below $80 Yet to Upset Bond Market Seeing Arab Wealth - Bloomberg:
"The 29 percent plunge in oil prices this year has yet to unnerve bond investors in some of the world’s biggest crude-producing nations in the Middle East.
The yield on Abu Dhabi’s April 2019 dollar-denominated security fell four basis points since Brent crude reached its year-to-high on June 19, with the yield 46 points lower in 2014, according to data compiled by Bloomberg. The rate on Qatar’s January 2022 bond has also declined since oil peaked.
Persian Gulf producers are better prepared this time than when crude tumbled amid the financial crisis in 2008. The benchmark Brent grade has averaged $109 a barrel since January 2011, enabling the region’s wealthiest producers to amass cash. Saudi Arabia has boosted foreign-exchange reserves 68 percent to $739 billion since 2008, while Kuwait, Qatar and the United Arab Emirates have grown at faster rates, data compiled by Bloomberg show."
'via Blog this'
No comments:
Post a Comment