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Bond Market News

Pakistan’s Dollar Bonds Drop on Delayed Poll Results

February 13, 2024

Pakistan’s dollar bonds fell by up to 3 points after its election results were delayed amid a shutdown in mobile networks. The country had earlier suspended mobile services ahead of the election in an effort to maintain order due to militant incidents. Last week S&P said that it saw Pakistan being on a path to securing a possible upgrade to B, depending on whether the elections would bring about a government that can push for tough reforms.

Pakistan’s 6.875% 2027s fell by 3 points to 72.5 cents on the dollar, yielding 16.98%.

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