Here Is Why The Tadawul May Soon Pull An "Egypt Stock Market", And Close Indefinitely
The first from a major bond trading desk:
Reports are circulating that there has been massive buying of Treasuries out of the Middle East this morning following the NFP report. The buying has been across the curve, with large concentrations in the 2-5yr sectors. Now that's a safe haven trade from the countries causing the stress in the first place.
And for those wondering why the Tadawul may do a reverse EGPT, and not open for a while...
We have confirmed reports of massive amount of money moving out of the country, most likely to Abu Dhabi resulting in a huge sellout in the stock market which saw a major decline in the past few days.
As for the dollar: it is a sad, sad sight what the dollar has become. Thank you Chairsatan!
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