08.11.2012 - Dubai sovereign bonds are attractive
Spreads on Dubai government bonds remain attractive and potentially offer significant returns for debt investors, Standard Chartered said in a research report on Wednesday. Based on comparisons with different peers, the U.K.-based lender said Dubai sovereign paper could offer between 70 – 145 basis points of upside from current levels. “However, we acknowledge that, given the very strong run the sovereign has had this year, the pace of gains is likely to moderate,” the bank said. Bonds issued by unrated Dubai, still recovering from a crippling debt crisis in 2009, have rallied strongly this year, driven by an economic recovery as well as returning investor confidence after a string of credit-positive news...............................................Full Article: Source
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