EMEA: Middle East

* Saudi bonds: Short-term underperformance, long-term de-rating, Marcus Chenevix, 4 Nov 2016
Markets are pricing marginal risks to fiscal adjustment, but the real challenges run deeper.
* The world according to Trump: Russia vs Saudi Arabia, Marcus Chenevix, Christopher Granville, 29 Nov 2016
The strongest new geopolitical market driver now comes from France
* GCC: The UAE atop a widening gulf, Marcus Chenevix, 14 Dec 2016
While the market correctly distinguishes sheep from goats, degrees of difference are inadequately priced
* Russia-Saudi oil axis: Gain without pain, James Henderson, Christopher Granville, 19 Dec 2016
More of a floor than a motor for the oil price; cynical cheer for Russian assets
* Kuwaiti bonds: Wait for the dips, Marcus Chenevix, 19 Jan 2017
* Saudi Arabia: Issuing debt from a fiscal black hole, Marcus Chenevix, 22 Feb 2017
Fiscal opacity erodes the positive case
* Russia-Saudi oil axis: Last hurrah in H2/17, Christopher Granville, James Henderson, 27 Apr 2017
The short-term outlook for the oil price is positive, but structural headwinds remain strong
* Russian oil – volume gearing, Christopher Granville, James Henderson, 8 May 2017
While reinforcing our long-term negative oil price view, domestic top-down drivers still net positive for Russian oil stocks
* Saudi Arabia: Fatigue and blockage, Marcus Chenevix, 22 May 2017
* Qatar cut off, Marcus Chenevix, 5 Jun 2017