Gulf financial markets find support from higher oil prices

The rise in oil prices following the recent OPEC deal to cut output has supported financial markets across the Gulf over the past month. Stock markets have perked up and spreads of dollar bonds over US Treasuries have narrowed, limiting the overall rise in yields. But with the Fed set to tighten policy by more than the markets expect, the region’s dollar bonds are likely to perform poorly in 2017.

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