A rally in oil helped cut Malaysia’s bond risk by the most among investment-grade nations as an embattled state-investment company sold assets to cut debt.
The cost to protect five-year sovereign notes with credit-default swaps dropped 80 basis points in the six months through March to 153 basis points, CMA prices show.
That’s unwound much of the 98 basis-point surge in the previous six that came as a plunge in Brent crude cut government revenue and corruption scandals surrounding 1Malaysia Development Bhd (1MDB) shook the administration of Prime Minister Datuk Seri Najib Tun Razak.
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The cost to protect five-year sovereign notes with credit-default swaps dropped 80 basis points in the six months through March to 153 basis points, CMA prices show.
That’s unwound much of the 98 basis-point surge in the previous six that came as a plunge in Brent crude cut government revenue and corruption scandals surrounding 1Malaysia Development Bhd (1MDB) shook the administration of Prime Minister Datuk Seri Najib Tun Razak.
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