KUALA LUMPUR: It’s turning out to be a better quarter for investors in Malaysia’s Islamic dollar bonds as oil prices rally, funds return to emerging markets and the government overhauls its tax system.
The Islamic bonds due in 2025 have returned 4.3% since the end of December following a meager 0.9% gain in the previous three months, based on Bloomberg-compiled data. The notes pay 1.24 percentage points more than similar-maturity Treasuries, giving some protection for now to the rising odds of monetary tightening by the Federal Reserve that are pushing up US yields.
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