After the race for Presidency, the bonds extended their rally

Senegal’s bonds rallied for a second day, posting the best performance among sovereign dollar-debt issuers in emerging markets. Bassirou Diomaye Faye clinched victory in the race for the presidency. Faye won the presidency in the last week.

Senegal’s sovereign dollar bonds rallied, posting some of the best gains in emerging markets. Investors bet on the western African country getting a stable government and Bassirou Diomaye Faye toning down some of his extreme policy measures he had outlined during the campaign.