Sukuk in Indonesia and Dubai rose and Islamic bond yields reached a six-year low on speculation that the death of Al Qaeda leader Osama bin Laden would ease the risk of terrorist attacks and improve prospects for the industry’s global expansion.
The average yield on Shariah-compliant bonds fell for a sixth day to 4.186 percent on Monday, the lowest level since 2005, according to the HSBC/Nasdaq Dubai US Dollar Sukuk Index. The yield on Indonesia’s 8.8 percent dollar sukuk due in April 2014 dropped one basis point from Friday to a four-month low of 3.107 percent, while that on Dubai’s 6.396 percent Islamic debt due in November 2014 reached a record low of 5.007 percent. (full story)
The average yield on Shariah-compliant bonds fell for a sixth day to 4.186 percent on Monday, the lowest level since 2005, according to the HSBC/Nasdaq Dubai US Dollar Sukuk Index. The yield on Indonesia’s 8.8 percent dollar sukuk due in April 2014 dropped one basis point from Friday to a four-month low of 3.107 percent, while that on Dubai’s 6.396 percent Islamic debt due in November 2014 reached a record low of 5.007 percent. (full story)
