Political crisis knocks Pakistan sovereign dollar bonds
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LONDON, April 4 (Reuters) - Pakistan sovereign dollar bonds dropped more than 2 cents on the dollar amid a deepening political crisis in the country.
The country's 2027 issue slipped 2.39 cents in the dollar to trade at 76.375 cents, Tradeweb data showed. The premium demanded by investors to hold Pakistan's hard-currency bonds over safe-have U.S. Treasuries widened to 1012 basis points, according to the JPMorgan EMBIG Global Diversified index.
Pakistan's top court will meet on Monday to decide on the fate of Prime Minister Imran Khan, after his party blocked a no-confidence vote and he dissolved parliament in a surprise move to prevent his ouster over the weekend. (Reporting by Karin Strohecker, editing by Jorgelina do Rosario)
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