Friday, 27 November 2009

Dubai surprise II

Further to my post yesterday about Dubai it would appear that Moodys downgraded 5 Dubai-Government-controlled companies on the 05 November and yet Barclays still recommended them as a good buy that very same day....

"On that basis, we recommend a long position in Dubai sovereign credit and see today’s negative price actions as an opportunity to buy."

On the basis that Moody's assessment was availale to all market participants, why the faux surprise?

It looks like someone has been reading my blog. Hey, I'm famous. Taxi....

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