Mideast benefits as investors look further afield

Mideast benefits as investors look further afield:

"As investors brace themselves for a shift in monetary policy across developed markets and trillions of euros of debt still trade at negative yields, it is no surprise that many have looked further afield for returns this year.

Middle Eastern countries, in particular, have been big beneficiaries of a hunt for yield, with the region selling by far the largest annual volume of sovereign and local authority debt on record.

While these bonds have typically been denominated in dollars, to which Middle Eastern currencies are pegged, some investors point to the attractiveness of local currency bonds as a means of further boosting fixed income returns."



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