Iraq Bonds Tumble Most in Year as Al-Qaeda Offshoot Takes Mosul

June 11, 2014 11:14 AM

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Iraqi bonds plunged, pushing yields up the most in a year, after fighters from a breakaway al-Qaeda group took control of Mosul in a move highlighting Prime Minister Nouri al-Maliki’s weakening grip on the country.

The yield on the $2.7 billion of securities due in January 2028 climbed 26 basis points to 6.76 percent at 2:20 p.m. in Dubai, the biggest jump on a closing basis since June 20, according to data compiled by Bloomberg.

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