03.10.2011 - Dubai bonds selling may be overdone as EFG says buy: Arab Credit
EFG-Hermes Holding SAE is holding on to Dubai bonds to capture the Middle East’s highest yields, betting that the sell-off of the indebted emirate’s assets triggered by Europe’s debt crisis is overdone. The yield on Dubai Holding Commercial Operations’ 4.75 percent euro bond due in January 2014 jumped 653 basis points, or 6.53 percentage points, in the quarter that ended Sept. 30 to 16.2 percent, the highest among the 106 members of the HSBC/NASDAQ Dubai Middle East Conventional US Dollar Bond Index.............................................Full Article: Source
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