Sri lanka's dollar bonds claw back some tariff-driven losses
ReutersApr 8, 2025 7:08 AM
LONDON, April 8 (Reuters) - Sri Lanka's dollar bonds rose nearly 3 cents on Tuesday, Tradeweb data showed, clawing back some of the steep losses driven by global U.S. tariffs.
The 2035 issue gained the most, rising 2.7 cents to be bid at 58.75 cents, but did not totally undo the preceding three trading days of losses.
The 2035 bond is still trading nearly 9 cents lower than the March 31 level, before U.S. President Donald Trump unveiled the sweeping tariffs that included a 44% levy on Sri Lanka, which exports tea and textiles to the United States.
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