Kazakh Debt Comeback After 14 Years Spoiled by Oil as Bonds Fall
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Kazakhstan’s first dollar bonds in over a decade are plunging less than three months after their sale as oil, the nation’s main export, tumbles.
The country’s 3.875 percent securities due 2024 extended declines today and have dropped 8.6 cents this month to 88.85 cents on the dollar, sending yields surging to 5.35 percent. Kazakhstan’s main equity index has lost 22 percent this quarter, one of the worst performers of 93 markets worldwide tracked by Bloomberg.