|25 March, 2020

Gulf dollar bonds rally as global markets rebound

Gulf bonds posted further gains on Wednesday

Image used for illustrative purpose. In this Photo Illustration, Twenty and five dollar bills are displayed on August 29, 2017 in San Anselmo, California.

Image used for illustrative purpose. In this Photo Illustration, Twenty and five dollar bills are displayed on August 29, 2017 in San Anselmo, California.

Gettyimages/Justin Sulliva

DUBAI- Gulf bonds posted further gains on Wednesday as global markets rebounded on news of a $2 trillion U.S. fiscal stimulus package.

Saudi Arabia's 30-year dollar bonds due in 2049 were up 8.5 cents, while similar bonds by its oil giant Aramco 2222.SE gained 6 cents, Refinitiv data showed.

Similar bonds by Qatar also rose 6.4 cents. Abu Dhabi 30-year bonds due in 2047 were up 6 cents, while similar Bahrain bonds gained 2.6 cents. Oman 30-year bonds due in 2048 climbed 5.8 cents.

(Reporting by Yousef Saba; Editing by Jon Boyle) ((Yousef.Saba@thomsonreuters.com; +971562166204))

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