Bloomberg: Saudi Arabia Is Looking for Friends

Saudi Arabia is set fair to bring its first foreign bond sale for a minimum of $10 billion. But, let's face it, $20 billion has a nice ring to it if they can get to that, especially as it would beat Argentina's $16.5 billion in April.

Indicative yields have been posted in the region of 2.60 percent for 5 years (160 basis points over similar maturity U.S. Treasuries), 3.60 percent for 10 years (plus 185 basis points) and 4.85 percent for 30 years (plus 235 basis points, a total steal that will tempt many hedge funds to go long).

Bloomberg: China Bull Who Beat 99% of All Bond Funds Says Yuan Drop Is Over

For an investor whose fortunes are tied to a currency that most forecasters warn is destined to decline, Andy Seaman is surprisingly upbeat.

The manager of Stratton Street Capital’s Renminbi Bond Fund says the shock devaluation of China’s currency in August -- and the raft of dire analyst predictions that followed -- have failed to shake his confidence. He expects the renminbi, also known as the yuan, to gain against the dollar by the end of 2016 and keep climbing in the years to come, buoyed by China’s current-account surplus, the central bank’s efforts to burn bearish speculators and foreign inflows into the nation’s increasingly open bond market.