Embargo Pain Soothed for Qatar as Stock Rout Evaporates
- Main stock index has recouped all its embargo-fueled losses
- Bond yields have narrowed since neighbors cut ties with Qatar
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Qatari stocks made a breakthrough, recouping their losses from the trade and travel embargo imposed on the nation 14 months ago by its neighbors.
After trailing every major stock indexes except Pakistan’s in 2017, Qatar is among the world’s biggest gainers this year. The QE Index advanced 1.5 percent on Wednesday, and a further 0.1 percent on Thursday, bringing its increase in 2018 to 17 percent. While the country’s dollar bonds haven’t fared as well, the yield on debt due 2026 narrowed about 40 basis points since reaching a peak in May.