The first Saudi bond sale prices
– 5s +135 bps vs +160 bps expected
– 10s +165 bps vs +185 bps expected
– 30s +210 bps vs +235 bps expected
The lower yield comes despite Saudi Arabia super-sizing the sale to $17.5B from $10.0B expected because of a whopping $67 billion in bids. Those are the kinds of yields that sends a country plunging into irrecoverable debt.
