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Bond Market News
Sri Lanka’s Dollar Bonds Rise Amid Easing Middle East Tensions, Fuel Support from India
April 1, 2026
Sri Lanka’s dollar bonds were higher by 1.5-2 points across the curve. This came as risk-on sentiment took to the financial markets after US President Donald Trump indicated that the Middle East war might end soon. Its dollar bonds have fallen by 7-10% in March since the beginning of the war, making it among the worst performing sovereign bonds during the month. Separately, India also sent an emergency shipment of 38,000 metric tonnes of fuel (across both diesel and petrol) to Sri Lanka following acute fuel shortages in the island nation. This occured after reports noted that Sri Lanka’s contracts with Middle Eastern and Singaporean suppliers invoked force majeure due to the current war disruptions, leading to supply shortages.
Sri Lanka’s 3.35% 2033s were higher by 1.7 points to trade at 85.3, yielding 6.7%.
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