Bond Buyers' Trail to Casablanca Undeterred by Street Unrest
- Investors stand by Morocco bonds amid anti-government stir
- Government’s Eurobond yields near lowest since November
Moroccan demonstrators clash with security forces in the northern Moroccan city of Al-Hoceima on June 8, 2017.
Photographer: FADEL SENNA/AFP via Getty ImagesThis article is for subscribers only.
Investors are ignoring the latest wave of anti-government protests in Morocco as they continue to pile into North Africa’s top-performing bonds this quarter.
Yields on securities issued by the region’s lone investment-grade nation have dropped even as thousands took to the streets in an escalation of discontent simmering since October over unemployment and corruption. The gains were spurred by an appetite for riskier assets and bets the government will maintain a six-year track record of defusing tensions.