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There's an anomaly forming in Bahrain's debt market.The reason is that demand for the nation's conventional bonds has waned from investors who were once satisfied with the implicit support Bahrain received from its Gulf allies. In the past, Bahrain would issue more notes to shore up its finances.In March it scrapped the sale of conventional bonds amid weak demand, opting to go only with the Shariah-compliant offering.The yield on Bahrain's conventional bonds due 2022 climbed to a record 8.86 percent 4:02 p.m. in Manama, Bahrain Monday, well above the 7.39 percent rate on the nation's dollar sukuk due February 2024, according to prices compiled by Bloomberg.
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