Too Battered to Fail: Bonds in the Gulf Are a Safe Place to Hide - Bloomberg:
"Investors’ appetite for risk is back, but most of the issues that soured the mood across emerging markets last week are a tweet away from flaring up again. When that happens, the Gulf’s beleaguered bonds will offer refuge. Blighted by political risks in the region, a flood of debt sales and finances that haven’t recovered fully from the crash in oil prices, sovereign bonds in the six-nation Gulf Cooperation Council are now attractive compared with similarly rated peers. “Although Middle East sovereign issuers remain vulnerable to headline risk, there is already a considerable geopolitical risk premium baked into their asset prices,” said Brett Rowley, the Los Angeles-based managing director for emerging markets at TCW, which manages about $200 billion."
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