Saudi Bonds Drop as Row With U.S. Over Missing Writer Escalates
- Yield on kingdom’s 2028 dollar debt climbs to a record
- Riyal forwards advance, stocks gain most in the world
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The growing diplomatic row over the disappearance of Saudi columnist Jamal Khashoggi reverberated through the country’s bond market.
The yield on the kingdom’s $5 billion debt due 2028 jumped to a record and 12-month riyal forwards earlier posted their biggest jump in more than three years in the offshore market. The Tadawul All Share Index added 4.1 percent, the most in the world, rebounding from Sunday’s retreat amid speculation government-related funds are boosting the securities.