GCC markets might not have read the memo about the US Fed's dovish hike. The 1 year and 2 year swaps moved higher yesterday towards 1.86 and 2.14% respectively.
Liquidity is poor towards year end, but the direction seems clear. A solid USD typically indicates low oil prices and indeed this is exactly manifested yesterday.
"Clearly markets remain anxious about the impact of low oil prices and the strong USD upon the USD-SAR peg... Investors can expect swap rates to continue grinding higher and forward markets to edge higher also", says Commerzbank. Add to Anti-Banner


Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off
Thailand Inflation Remains Negative for 10th Straight Month in January
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength




