Khashoggi Saga Deepens Enigma of Saudi ‘Black-Box’ Stocks - Bloomberg:
A slump in stocks followed by an unexplained rebound. A bond market that appeared to be driven by an entirely different narrative. And at the end of it all, a gauge of volatility at its highest in almost three years.
By any measure, the past few days in Saudi Arabia’s markets have been a wild ride, as the unfolding drama surrounding the disappearance of Jamal Khashoggi drove prices this way and that.
But far from being unusual, the swings have merely served to underline an inescapable fact about the kingdom’s markets -- that it’s hard to know what determines price movements at the best of times.
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