GCC bonds weak on news of tankers hit in Gulf of Oman, Aramco bonds down

International bonds issued by Gulf Cooperation Council (GCC) governments were down on Thursday after two tankers were hit in suspected attacks in the Gulf of Oman, a month after a similar incident in which four tankers in the region were struck.

Saudi Arabia's bonds due in 2049 were down over 0.6 cents in early trade while $3 billion in bonds issued by state oil giant Saudi Aramco, also due in 2049, were down 1 cent on the dollar, according to Eikon Refinitiv data. Traders said other GCC sovereign bonds were also weak on the news, and regional credit default swaps - which indicate the cost of insuring against a default - were on the rise.