Pakistan’s sovereign bonds soared on Monday after a ceasefire agreement with India eased investor concerns, according to Reuters. The rally was further fueled by the International Monetary Fund’s Executive Board approval to release approximately $2.3 billion in financial assistance to Pakistan.
Data from Tradeweb showed the 2036 bond leading the surge, jumping 4.46 cents to 77.04 cents on the dollar. The 2031 bond followed closely, rising nearly 4 cents to 83 cents.
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The ceasefire, reached over the weekend following days of cross-border clashes, has been welcomed by investors. Military leaders from both nations are expected to meet today to explore additional measures for regional de-escalation and stability.
