GCC Bond Issuance Falls to Slowest Pace Since December
Dow Jones
Yesterday
1120 GMT - GCC bond and sukuk issuance slowed sharply in August even as regional credit spreads tightened, Kamco Invest says. Gross issuance fell to $7.3 billion, the lowest monthly total since December and down from roughly $18.5 billion in July, while there was no government sukuk issuance during the month. GCC U.S.-dollar credit spreads tightened 10 basis points in August, but renewed increases in global bond yields at the start of September have already reversed much of the rates relief, Kamco says.
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