Saudi bonds lead Gulf rally after JP Morgan index inclusion | Reuters:
Dollar bonds from Saudi Arabia and Qatar led a rally in Gulf debt markets on Wednesday, after they gained entry into JP Morgan’s widely- followed emerging market indexes.
Saudi Arabia’s 2046 bond rose 1.5 cents while a 2042 Qatar bond climbed 0.8 cents, data from Tradeweb showed.
Sovereign and quasi-sovereign debt issuers from Saudi Arabia, Qatar, the United Arab Emirates, Bahrain and Kuwait will all become eligible for the EMBI Global Diversified (EMBIGD), EMBI Global (EMBIG) and EURO-EMBIG indexes.
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