Mongolian Dollar Bonds Drop Most in Two Years as Copper Slumps
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Mongolia’s dollar bonds are sliding at the fastest pace in almost two years as a slump in commodity prices dims prospects for the mineral-rich nation.
Sovereign notes due December 2022 dropped 5.1 percent in July, the biggest decline since August 2013, and have fallen on all but one day in the past four weeks, according to data compiled by Bloomberg. The yield has jumped 118 basis points since the end of June to a three-month high of 7.95 percent as of 2:47 p.m. in Ulaanbaatar.