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The GCC bond market has more potential to the upside as it is driven by a supportive macroeconomic outlook, ample liquidity and a strong local investor base according to Christiane Nasr, Head of Mena Fixed Income & Director at the Dubai office, Cr?dit Agricole Private Banking.
The GCC bond market posted an impressive performance last year in comparison to its peers in other Emerging Markets. Regional bonds in the high yield category led by Dubai Inc have returned more than 7 per cent in 2013 outperforming other Emerging Markets which were in negative territory for the first time since 2008. Year-to-date, GCC corporates have returned more than 2 per cent, which is twice better than emerging markets counterparts.