May 4, 2020 / 7:18 AM / a month ago

Saudi dollar bonds post losses as investors brace for 'pain' to come

DUBAI, May 4 (Reuters) - Saudi Arabian government dollar bonds posted losses in early trade on Monday as investors absorbed the finance minister’s comments over the weekend that the country would take strict and painful measures to deal with the economic impact of the coronavirus pandemic.

Saudi Arabia’s 35-year bond due in 2055 lost 1.2 cents to trade at 90.1 cents on the dollar, while its 40-year bonds due in 2060 shed 1.35 cents to trade at 98.4 cents on the dollar, Refinitiv data showed.

It saw steep losses on its other bonds as well, while most other bonds from the Gulf saw smaller losses and some even strengthened marginally. (Reporting by Yousef Saba; Editing by Toby Chopra)

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