Bond Market's Wrath Awaits Gulf Exporters Stung by Crude's Slump - Bloomberg Business:
"It’s about to get a lot more expensive for Gulf region borrowers to fill the holes in their budgets caused by slumping oil prices.
Issuers in the six-nation Gulf Cooperation Council, including the governments of Saudi Arabia and Qatar, will probably find themselves paying 50 to 100 basis points more than current yields to sell bonds on global markets in 2016, according to Mashreq Capital DIFC Ltd., which manages the Middle East’s best-performing Islamic fixed-income fund. Oil’s 35 percent drop last year pushed yields to the highestin more than four years.
Saudi Arabia
The biggest Arab economy, for which oil income accounts for three quarters of government revenue, last month forecast a 14 percent cut in state spending in 2016 and said it will bridge its $87 billion budget deficit by selling local and foreign currency bonds.
http://assets.bwbx.io/images/iVZp.k1N9G.g/v3/-1x-1.png"
'via Blog this'
"It’s about to get a lot more expensive for Gulf region borrowers to fill the holes in their budgets caused by slumping oil prices.
Issuers in the six-nation Gulf Cooperation Council, including the governments of Saudi Arabia and Qatar, will probably find themselves paying 50 to 100 basis points more than current yields to sell bonds on global markets in 2016, according to Mashreq Capital DIFC Ltd., which manages the Middle East’s best-performing Islamic fixed-income fund. Oil’s 35 percent drop last year pushed yields to the highestin more than four years.
Saudi Arabia
The biggest Arab economy, for which oil income accounts for three quarters of government revenue, last month forecast a 14 percent cut in state spending in 2016 and said it will bridge its $87 billion budget deficit by selling local and foreign currency bonds.
'via Blog this'
No comments:
Post a Comment