Pakistan, Israeli, Egyptian dollar bonds slide after Israeli strikes on Iran

LONDON: Long-dated dollar bonds for Pakistan, Israel and Egypt slipped on Friday, and Israel’s shekel tumbled, after Israeli air strikes in Iran.

Pakistan’s 2031 bond fell just over 1 cent to be bid at 78.61 cents.The shekel was 2.0 per cent weaker by 0713 GMT standing at 3.63 to the dollar after touching 6.793 in overnight trade -- its softest in seven weeks.

Israel’s bond maturing in 2140 shed 1.45 cents, to be bid at 65.61 cents on the dollar, while Egypt’s 2049 bond fell nearly 2 cents to be bid at 77.36. Israel launched widescale strikes against Iran on Friday, the start of a prolonged operation to prevent Tehran from building an atomic weapon. Iran had launched about 100 drones towards Israeli territory in retaliation, “most of which” were intercepted by Israel.