U.A.E. Bonds Gain as Fuel-Subsidy Halt Boosts Abu Dhabi Coffers
OPEC’s third-biggest oil producer just ended fuel subsidies and investors are rewarding the move.
While the average yield on developing-country debt has increased 13 basis points since the July 22 announcement of fuel-price deregulation in the United Arab Emirates, the yield on bonds of Abu Dhabi, the richest of the country’s seven sheikhdoms, has declined four basis points. The yield on bonds of the neighboring emirate of Dubai maturing in 2018 fell 1 basis point over the period. Details