In Bahrain, 5-year CDS spreads are widening as the violent crackdown continues. Sheikh Ali Salman, the leader of Al-Wefaq (the largest of the protest groups), called for the withdrawal of the 1,000 or so Saudi Arabian security forces that arrived on Monday.
Chart from CMA.
Not that there is a lot of trading going on in the financial centre — despite continuing reports of capital outflows. Reuters also reports on Thursday that:
Bahrain’s index .BAX resumed trading on Thursday following a one-day suspension, rising 0.1 percent as six stocks traded, generating a combined volumes of less than 770,000 shares.
“There has been no trading at all because of the curfew. The brokers in Bahrain have not really been in the offices. The market has been very quiet, and market-making and the two-way prices have been non-existent.”
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