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Malaysian Bonds Cap Worst Week Since February as 1MDB Defaults

Malaysia’s 10-year government bonds completed the biggest weekly drop in almost three months as a debt default by a state investment company damped demand for the nation’s assets.

The country’s currency also weakened as 1Malaysia Development Bhd. missed an interest payment on a $1.75 billion bond, triggering cross-defaults on 7.4 billion ringgit ($1.9 billion) of the company’s debt, including borrowings that are guaranteed by the sovereign. Investors are selling the 10-year notes ahead of the issuance of a new similar-maturity bond in May, according to...


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