Saudi Devaluation Bets Surge, Stocks Crash As Debt Deal Falters On 9/11 Legislation Anxiety

Wednesday, September 28, 2016
By Paul Martin

by Tyler Durden
ZeroHedge.com
Sep 28, 2016

Despite its peg, Spot Riyal is trading at its weakest in 8 months as turmoil mounts in The Kingdom as a failed ‘deal’ in Algiers, pay cuts for royalty, and now growing concerns that the US vote/veto on 9/11 Legislation will delay Saudi Arabia’s first international bond sale. Forward bets on Saudi currency devaluation are surging and default risk is on the rise again as Bloomberg reports, a Senate vote to override President Barack Obama’s veto could cause some investors to balk at the issue.

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