KARACHI: Following the increasing trend in the Pakistan Stock Exchange (PSX), Pakistan’s bond market has also surged with annual gains of up to 40%.
In a statement, CEO Topline Securities Mohammed Sohail said, “Pakistan Investment Bonds (PIBs) have delivered annual gains of up to 40%, driven by the faster-than-expected decline in inflation and signs of economic stability. Yields are down 400 to 1000 basis points in one year.”
In October 2023, the yield on the 1-year bond was 23 percent, while the 3-year, 5-year, and 10-year bonds offered 19 percent, 17 percent, and 16 percent, respectively.
The yields, however, sharply declined to 13 percent for the 1-year bond, and 12 percent for the 3-year, 5-year, and 10-year bonds, each.
This sharp decline in yields could open the door for the government to tap into commercial borrowing from international markets under more favorable terms, Sohail added.
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