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Saudi Arabia Shares Hit 20-Month Low On Protest Contagion Fears

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http://www.telegraph.co.uk/finance/markets/8354830/Saudi-Arabia-shares-hit-20-month-low-on-protest-contagion-fears.html

Saudi Arabia's stock market tumbled nearly 7pc to a 20-month low on Tuesday after authorities held a Shi'ite cleric, raising fears unrest will spread to world’s biggest exporter of oil and the largest Arab economy.

Still it can't get any worse can it.....

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For those who like to buy when others are fearful some emerging markets are offering good opportunities to start drip feeding money in now.

Middle east, Turkey, and Vietnam ETFs are all down massively from their highs.

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I wonder if there are vested interests in allowing the situation in Libya to stagnate and fester? Serve as a warning to other places thinking of revolting?

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http://www.telegraph.co.uk/finance/markets/8358176/Saudi-Arabia-contagion-triggers-Gulf-rout.html

Saudi Arabia’s Tadawul stock index has tumbled 11pc in wild trading over the past two days, led by banks and insurers. Dubai’s bourse has hit a 7-year low.

Sounds like panic and no one quite sure what's going to happen.

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http://www.telegraph.co.uk/finance/markets/8358176/Saudi-Arabia-contagion-triggers-Gulf-rout.html

Sounds like panic and no one quite sure what's going to happen.

Meanwhile in the real World all is quiet on the Streets.

This Libya crisis has a silver lining for both Saudi Arabia and Iran. Saudi has huge stockpiles of oil in its tank farms, accumulated when oil was at $40. Now selling 2 years later for $100 plus. That will fund the bungs for a few more months.

Iran has at least 25 million barrels in floating storage on the other side of the Gulf accumulated largely due to sanctions. The Libya crisis is a good opportunity to offload that oil onto European refiners at a high price too.

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And from Zero Hedge:

while Saudi CDS was the biggest widener this morning per CMA, hitting 140 bps.

Still, UK house prices have been massaged up! Party on, dudes!

Saudi Default????

I suppose if oil went back to $25 a barrel for a couple of years, it would be possible....

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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