Saudi Arabia passes bond test as investors look past Khashoggi

Saudi Arabia drew a strong response on Wednesday in its first test of international bond market sentiment since coming under intense scrutiny in October from foreign governments and investors over the murder of journalist Jamal Khashoggi. The sale coincides with improved conditions across emerging markets, with yields compressing over the past few weeks, and Timothy Ash, senior emerging markets strategist at Bluebay Asset Management, called it "opportunistic". "The issuance received significant interest from international investors, with the orderbook peaking at $27.5 billion," it said.