Economics
Market Devouring Record Gulf Bonds Won’t Touch Oman, Bahrain
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Oman and Bahrain are stuck on the sidelines of the international debt markets after a record borrowing tally by Gulf Arab economies this month underscored a divide between the region’s strongest and weakest sovereigns.
Facing external financing needs that Goldman Sachs Group Inc. estimates at $5.5 billion this year, Oman and Bahrain are all but shut out from bond funding, waiting for their yields to retreat before wading into the market. Their wealthier neighbors in April raised a combined $24 billion in sales that collectively drew about $140 billion in investor demand.