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Regional oil dynamics may make NOCs cautious on scale of production increase.
The US is now close to moving ahead of Russia as the largest producer in the world.
But markets are likely to be supported by an uncertain political and economic outlook.
In June 2018, GCC equity markets rallied for a fourth consecutive month.
Dubai forward curve flattens out
US crude production hits all time high
Investors move out of precious metals
GCC Equity Flow Monitor - June 2018
Global equities closed higher as investors shrugged off the reality of trade war
The UK government is under pressure to keep its Brexit strategy intact.
Global equities closed higher as investors shrugged off the reality of trade war and the possibility of more coming and preferred to concentrate on the Q2 2018 earnings season.
Market developments were dominated by events in the UK last week, where the government published its White Paper for exiting the EU, and suffered two prominent cabinet resignations as a result.
Global equities closed higher despite the start of a new phase in the current trade war with the imposition of tariffs by the US and China.
UAE PMI : Surging backlogs point tp capacity constraints
US producer inflation rises
UK foreign secretary Boris Johnson resigns
GCC Bonds : Is The Worst Behind Us?
US threatens inward investments from China
Oil prices recover on OPEC output deal
The Emirates NBD PMI for Egypt remained below the neutral 50.0 level which delineates contraction and expansion in the non-oil private sector in June, coming in at 49.4
Though several risks continue to lurk on the horizon, we believe it is time to begin looking at the GCC bonds favourably
Supply disruptions from Canada and healthy demand are helping draw down on inventories.
But increase is unlikely to swamp markets
Notwithstanding the upward revision of the dot plot earlier in this month, UST yield curve continued to fall under the pressure of higher safe haven demand.
MARKETS, FIXED INCOME
Global equities closed lower as the focus shifted onto the ongoing trade war between the US and other countries.
MSCI confirmed that it will be including Saudi Arabia in the MSCI Emerging Markets index.
But main focus remains on OPEC
World Bank estimates a percentage decline in global trade from increased tariffs by 2020
Saudi Arabia and Russia prep the market for an increase in output
A bullish report thanks to some healthy demand figures
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