| The predominant tone in October was one of "risk on" with fluctuations in $ interest rates having little bearing on Sukuk pricing in the region. Nervousness in the international market merely resulted in the local market pausing for breath before soldiering on once positive sentiment returned.
Against this backdrop, the hunt for yield continued apace and this was reflected in the strong performance of some previously unloved but higher yielding names in the conventional space i.e. Dubai Holdings 14s and 17s which increased by more than two per cent and three per cent respectively on the month. In the Sukuk high grade space, DP World 17s and Dubai Government 22s were two standout performers increasing 2.4 per cent and 2.3 per cent respectively on the month...............................................Full Article: Source
|