Global 2028: Pause In Yield Compression?

We are closing out our bullish view on Iraq's US$ Global 2028 bond for now, though we stress that this could well only be a temporary pause. On March 11, when the bond was yielding 13.55%, we suggested that the positive technical picture pointed to further yield compression in the short to medium term (see Global 2028 Bond: Still A Risky Bet For Now).

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