Persian Gulf Yield Advances Most in Six Months

The average yield on Islamic bonds in the Persian Gulf last week jumped the most in six months as concern over Europe’s debt crisis triggered a sell-off of riskier assets and pushed oil prices lower.

Sukuk yields in the region rose 15 basis points last week, the most since the week ended Nov. 18, to 4.1 percent, the HSBC/NASDAQ Dubai GCC US Dollar Sukuk Index shows. The spread between the average yield for Gulf sukuk and Libor advanced for a forth week, soaring 16 basis points in the period to 295 basis points, the index shows.

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