Dollar Bonds of Cathay Pacific rallied over 4 points on news that Hong Kong plans to ease its travel curbs. This included lifting of its flight ban on 9 countries and relaxing mandatory quarantine to 7 days from 14. In early March, Cathay had said that capacity of its passenger operations would remain only at about 2% of pre-pandemic levels while Cargo was at a third of its pre-Covid capacity. The latest news is a strong positive for Cathay which has been carrying only ~1% of its normal 100,000 daily passengers throughout the pandemic.

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