Middle East & North Africa Economics

Middle East Markets Monitor

31 October, 2017

Oil hits $60pb but Gulf markets continue to struggle

Oil prices broke through $60pb this month, up by a third since the middle of the year, but this has failed to provide a fillip to financial markets in the Gulf. In contrast, markets in Egypt have performed well – its equity market was the region’s best performer over the past month, while local currency bond yields fell further as interest rate cuts have come on to the horizon.

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