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Qatar Sovereign Dollar Bond Falls after Gulf States Sever Ties

2017-06-05 - 8:07 p

Bahrain Mirror - Reuters: The cost of insuring exposure to Qatari sovereign debt rose to the highest level in two months on Monday after Saudi Arabia, Egypt, the United Arab Emirates and Bahrain severed ties with Doha, accusing it of supporting terrorism.

But Qatar stocks tumbled over 7 percent and the 2026 sovereign dollar bond fell 1.8 cents to its lowest since the end of March after Saudi Arabia, Egypt, the United Arab Emirates and Bahrain severed ties with Doha.

Credit rating agency Moody's said the regional rift could have a negative impact on Qatar if it disrupted trade and capital flows.

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