World Clock

Thursday, 10 February 2011

A Sense of Optimism Regarding Egypt

If Credit Default Swaps (CDS) are anything to go by then investors would seem to have a some degree of confidence in Egypt at the moment, despite all the political uncertainty.

Also looking at the EGPT (see previous post for details), which is essentially acting like a futures market for actual Egyptian stock market that has been closed for the last week is also showing gains of around 8% since its low during the start of the crisis just over two weeks ago. Upon hearing the news that Hosni Mubarak could be stepping down as President of Egypt the EGPT ETF gained almost 3%.

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