Listen: Aramco Hype Meets Reality as Bonds Drop After Unprecedented Sale
"High would you describe the movement in around coz bonds is it a faded move or slump? Well, if you look at the prices all all the five maturity's during lower than new issue price and have one investor see that these may not have been the best way to start a bond market relations stopgap amok, its relationship bond investors. So some investors. Disappointed and why did once fall? Well, demean reason is because they were too expensive because of the strong demand diminished a price the deal at yields double-o it into sovereign. And so when you like the recent self-insurance theories that around coast vaughn's phone vol. And also some of the investors actually inflicted on in hopes of catching slice of crowded deal. And because some of them actually ended up getting more than what they want it. So they were selling these success holdings democracy on the other hand some to totemic difference folios. So they ended up selling points as well. Nettie Tracy Alloway here in Hong Kong. It's good to see you this morning. I gotta ask what is the outlook for around co pans going forward you've got supposedly eight billion dollars worth of pent up demand. Is this going to be a good time for those investors who are locked out of the initial sale to actually come in and buy. Investors, if you speak to investors, you know, it's a very missed because it depends on whether you're comparing co-sponsors with the sovereign or Pia such as EP a few compare around close bonds with BP's and BP has a rating of eighty one as well from Moody's just like Ramco around whose bonds to offer you'll pick up, but Durham any reasons why investors want to compare co-sponsor a sovereign because of the interlinkages between two sovereign and the company you look at the bought members about half of them aren't government officials, and yet, you know, to quasi sovereign is trading at heels are lower than the sovereign debt, quite"