Saudi’s record-breaking bond auction: top EM managers react

Saudi Arabia has seen a record breaking bond sale, with $17.5 billion of US dollar-denominated paper sold on the 19th October, as part of the country’s plans to decrease oil dependency. The Citywire Selector team asks EM managers who are positioned in Saudi Arabia and other emerging markets what this bond sale means for them. Rob Drijkoningen, co-head of emerging market debt at Neuberger Berman explains why he believes the Saudi auction has crossover benefits.