10.11.2010 - Portfolios: QE2 to spur Gulf issuance, but losses for SWFs
From MNI: Although investors in the Gulf region remain cautious, bearing in mind the defaults and debt restructurings seen within the Gulf economies the last 18 months -- including sukuk, the chase for yields due to low interest rates in the U.S. has created a window of opportunity for the Gulf's top-tier issuers. However, the Federal Reserve's new $600 billion Treasuries buying program is widely expected to drive down the value of the U.S. dollar, meaning capital losses for Gulf sovereign wealth funds and central bank reserves invested in dollar-denominated assets..............................................Full Article: Source
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