Saudi and Qatari bonds fall as U.S. yields rise | ZAWYA MENA Edition
Longer-term dollar-denominated bonds issued by investment-grade Gulf countries fell by more than a cent on Monday, Refinitiv's Tradeweb pricing showed, tracking a rise in U.S. Treasury yields.
Saudi government bonds due in 2060 shed 1.4 cents to trade at 118.25 cents on the dollar, while Qatari bonds due in 2050 fell 1.35 cents to 123.47 on the dollar.
Abu Dhabi bonds due in 2050 were down 1.55 cents to 114.8 on the dollar.
The Gulf countries' currencies are pegged to the dollar.
"Since most GCC (Gulf Cooperation Council) sovereigns (apart from high-yield countries Bahrain and Oman) are investment-grade rated (they) do react relatively strongly on underlying development in U.S. and EU rates," said Sergey Dergachev, a fund manager at Union Investment.
Oman and Bahrain's government bonds were little changed on Monday, Refinitiv's Tradeweb data showed.
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