Pakistan’s sovereign bonds rally as ceasefire with India continues

LONDON: Pakistan’s sovereign bonds rallied more than 4 cents on Monday, Tradeweb data showed, as a ceasefire with India announced over the weekend continued.

The 2036 issue gained the most, adding 4.46 cents to be bid at 77.04, while the 2031 added just under 4 cents to be bid at 83 cents on the dollar.

Pakistan’s sovereign dollar bonds slide as tensions with India rise

The nuclear-armed neighbours agreed a ceasefire on Saturday after several days of escalating fighting, and military operations chiefs of both countries are set to discuss the next steps on Monday.