Global 2028 Bond: Still A Risky Bet For Now

The yield on Iraq's US$ Global 2028 bond has come in since rising to over 15% in December and January: on March 11 it had dropped to 13.55%. While the positive technical picture points to further yield compression in the short to medium term, the current climate of risk aversion resulting from the ongoing crisis in global financial means that a return to pre-October 2008 yields is unlikely in the short to medium term.

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