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Bonds · Sovereign

Qatar government bonds

Qatar's bonds as US funds mark them in their filings (SEC Form N-PORT), by currency. Fund marks as of Jul 2026; they lag the market by about two months.

By currency

BondsMeasured againstCountSpread10-year spreadPriced-in 5y odds1-month changeMedian yieldHeld by US funds
USD Emerging markets, US-dollar bonds vs US Treasuries10 63 bp 46 bp5.1% +33 bp5.00% $121.6M

Priced-in odds = spread ÷ (1 − 40% recovery) over five years; it includes a risk premium and overstates actual defaults. Own-currency bonds get a yield and no odds: a government can print its own currency.

USD spread history

Median spread vs US Treasuries, month-ends with complete filings. Fund-reported.

24 bp82 bp139 bpJan 2021Jul 20262021-01-31: 81 bp2021-02-28: 89 bp2021-03-31: 81 bp2021-04-30: 104 bp2021-05-31: 50 bp2021-06-30: 83 bp2021-07-31: 119 bp2021-08-31: 64 bp2021-09-30: 123 bp2021-10-31: 112 bp2021-11-30: 67 bp2021-12-31: 81 bp2022-01-31: 124 bp2022-02-28: 60 bp2022-03-31: 93 bp2022-04-30: 139 bp2022-05-31: 56 bp2022-06-30: 90 bp2022-07-31: 98 bp2022-08-31: 76 bp2022-09-30: 138 bp2022-10-31: 133 bp2022-11-30: 48 bp2022-12-31: 100 bp2023-01-31: 78 bp2023-02-28: 85 bp2023-03-31: 78 bp2023-04-30: 102 bp2023-05-31: 108 bp2023-06-30: 101 bp2023-07-31: 90 bp2023-08-31: 68 bp2023-09-30: 108 bp2023-10-31: 104 bp2023-11-30: 81 bp2023-12-31: 69 bp2024-01-31: 90 bp2024-02-29: 89 bp2024-03-31: 80 bp2024-04-30: 90 bp2024-05-31: 78 bp2024-06-30: 77 bp2024-07-31: 47 bp2024-08-31: 69 bp2024-09-30: 78 bp2024-10-31: 65 bp2024-11-30: 58 bp2024-12-31: 55 bp2025-01-31: 42 bp2025-02-28: 58 bp2025-03-31: 43 bp2025-04-30: 52 bp2025-05-31: 52 bp2025-06-30: 29 bp2025-07-31: 32 bp2025-08-31: 45 bp2025-09-30: 26 bp2025-10-31: 27 bp2025-11-30: 38 bp2025-12-31: 33 bp2026-01-31: 34 bp2026-02-28: 24 bp2026-03-31: 78 bp2026-04-30: 56 bp2026-05-31: 38 bp2026-06-30: 30 bp2026-07-31: 63 bp

Qatar's USD curve

Yield to maturity of each USD bond US funds hold (32 bonds, government and government-related issuers, index-linked excluded), Jul 2026 fund marks. Hover a point for the bond.

4.68%5.30%5.92%0y12y24ySTATE OF QATAR 4.5 2028-02-27: 4.71%State of Qatar 4.5 2028-04-23: 4.68%STATE OF QATAR 3.63 2028-11-10: 4.78%Qatar Government International Bond 3.625 2028-11-10: 4.78%State of Qatar 4.0 2029-03-14: 4.85%Qatar Government International Bonds 4.63 2029-05-29: 4.78%STATE OF QATAR 4.625 2029-05-29: 4.72%Qatar Government International Bond 3.75 2030-04-16: 4.86%STATE OF QATAR 3.75 2030-04-16: 4.89%STATE OF QATAR 3.75 2030-04-16: 4.82%QATAR ST 9.75 2030-06-15: 4.98%STATE OF QATAR 4.8 2033-04-08: 5.07%STATE OF QATAR 4.8 2033-04-08: 5.08%STATE OF QATAR 4.75 2034-05-29: 4.90%Qatar Government International Bonds 4.75 2034-05-29: 4.92%STATE OF QATAR 4.875 2035-02-27: 5.02%Qatar Government International Bonds 4.88 2035-02-27: 5.03%Global Sukuk Ventures 4.25 2035-11-10: 4.93%Global Sukuk Ventures 4.25 2035-11-10: 4.92%State of Qatar 6.4 2040-01-20: 5.59%STATE OF QATAR 5.75 2042-01-20: 5.66%Qatar Government International Bond 4.625 2046-06-02: 5.90%State of Qatar 4.625 2046-06-02: 5.91%STATE OF QATAR 5.103 2048-04-23: 5.91%State of Qatar 5.103 2048-04-23: 5.92%Qatar Government International Bond 5.103 2048-04-23: 5.90%STATE OF QATAR 4.817 2049-03-14: 5.88%Qatar Government International Bond 4.817 2049-03-14: 5.88%State of Qatar 4.817 2049-03-14: 5.90%STATE OF QATAR 4.4 2050-04-16: 5.92%STATE OF QATAR 4.4 2050-04-16: 5.92%

Who holds Qatar's debt

Fund series holding Qatar's government and government-related bonds in their latest quarterly report: 122 now, 77 a quarter earlier. Names as reported in the filings.

Fund seriesReportBondsFace valueValue
PIMCO Income Fund2026-06-30 1$618.2M$621.5M
VANGUARD EMERGING MARKETS GOVERNMENT BOND INDEX FUND2026-07-31 19$223.6M$210.0M
PIMCO Total Return Fund2026-06-30 3$123.5M$117.4M
PIMCO Long Duration Credit Bond Portfolio2026-06-30 3$75.4M$73.4M
PIMCO International Bond Fund (U.S. Dollar-Hedged)2026-06-30 1$60.3M$60.6M
PIMCO Low Duration Income Fund2026-06-30 1$50.6M$50.9M
iShares Core Universal USD Bond ETF2026-07-31 17$49.4M$46.2M
Bridge Builder Core Plus Bond Fund2026-06-30 4$42.4M$41.3M
Invesco Emerging Markets Sovereign Debt ETF2026-07-31 3$42.9M$37.5M
Fidelity Emerging Markets Debt Central Fund2026-06-30 5$37.0M$34.6M
PIMCO Investment Grade Credit Bond Fund2026-06-30 2$34.9M$34.3M
TCW METWEST TOTAL RETURN BOND FUND2026-06-30 3$28.4M$25.9M
PIMCO Multisector Bond Active Exchange-Traded Fund2026-06-30 1$24.9M$25.0M
PIMCO Emerging Markets Bond Fund2026-06-30 2$21.5M$21.3M
PIMCO EM Bond and Short-Term Investments Portfolio2026-06-30 3$17.0M$16.3M
Western Asset Emerging Markets Debt Fund Inc.2026-06-30 2$14.9M$13.7M
PIMCO Dynamic Income Fund2026-06-30 1$13.1M$13.2M
Fidelity Total Bond Fund2026-05-31 5$13.1M$12.2M
Strategic Advisers Core Income Fund2026-05-31 1$11.5M$11.6M
State Street(R) SPDR(R) Bloomberg Emerging Markets USD Bond ETF2026-06-30 13$11.6M$11.1M

ETFs holding Qatar's bonds

From each ETF's own latest N-PORT report, as a share of its net assets. A holdings list, not a recommendation.

ETFReportBondsValue% of net assets
VWOB VANGUARD EMERGING MARKETS GOVERNMENT BOND INDEX FUND 2026-07-3119$210.0M 3.15%
IUSB iShares Core Universal USD Bond ETF 2026-07-3117$46.2M 0.11%
PCY Invesco Emerging Markets Sovereign Debt ETF 2026-07-313$37.5M 2.71%
EMHC State Street(R) SPDR(R) Bloomberg Emerging Markets USD Bond ETF 2026-06-3013$11.1M 4.09%
SPSK Sp Funds Dow Jones Global Sukuk ETF 2026-05-311$8.7M 1.63%
FBND Fidelity Total Bond ETF 2026-05-315$7.1M 0.03%
BGRN iShares USD Green Bond ETF 2026-07-312$5.6M 1.12%
ISTB iShares Core 1-5 Year USD Bond ETF 2026-07-317$4.6M 0.09%
CORP PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund 2026-06-301$3.2M 0.20%
UNIY WisdomTree VOYA Yield Enhanced USD Universal Bond Fund 2026-05-314$1.8M 0.14%
ILTB iShares Core 10+ Year USD Bond ETF 2026-05-315$1.7M 0.28%
EUSB iShares ESG Advanced Universal USD Bond ETF 2026-05-318$1.5M 0.22%
GEMD Goldman Sachs Access Emerging Markets USD Bond ETF 2026-05-318$1.5M 4.43%
GRNB VanEck Green Bond ETF 2026-07-312$1.5M 0.81%
GCOR Goldman Sachs Access U.S. Aggregate Bond ETF 2026-05-315$1.4M 0.17%

Sources: fund holdings and fund-reported marks from SEC Form N-PORT (published about 60 days after each month-end); 13F filings; House and Senate periodic transaction reports and OGE Form 278-T; Treasury yields from FRED. Findings from filings, not advice. How each number is computed.

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms