Pakistan’s sovereign dollar bonds get a surprise response over PTI victory
LONDON: Pakistan’s sovereign dollar bonds rose across the curve on Thursday as cricket icon-turned-politician Imran Khan inched closer to power after a general election.
The 2025 eurobond jumped 2.2 cents to 102 cents in the dollar according to Tradeweb data, the highest since June 1. The 2024 issue rose 1.7 cents to 101.7 cents, the highest in almost two months.
Pakistan’s benchmark index surged as much as 1.9 percent in early trading after Khan took a commanding lead with nearly half the votes counted after the election, which has been marred by claims of rigging by opponents.
Analysts said investors were relieved Khan was unlikely to have to rely on major opposition parties in a messy coalition.