MENA Debt: Opportunities For Gains

We have held a negative outlook on MENA debt since November (see 'MENA Debt: Yields Ticking Up, Could Go Further', November 9 2009), a view that was reinforced by the recent Dubai debt crisis. However, the Abu Dhabi bailout of Dubai has calmed the region's debt markets, and we now see scope for gains. We will focus on Qatari debt, and a high-risk, yet potentially high-reward Dubai instrument.

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