Senegal Bonds Outperform as Traders Track Parliament Politics
- Bonds show recovery after underperforming due to politics
- Further rebound seen on bets of political resolution, IMF aid
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Senegal’s dollar bonds outperformed emerging and frontier markets on Tuesday as investors closely followed political developments in the country.
The yield on the West African nation’s 2048 dollar bonds fell 15 basis points to 9.7%. That was the best performance of the 678 securities in a Bloomberg index of emerging and frontier sovereign debt. Rates on Senegal’s 2031 and 2033 securities also declined.