So far this year Iraqi stocks have been surprisingly oblivious to three very bullish developments. The Iraq Securities Commission has finally issued its instruction on custodian bank licenses. (See this post for more on custodian banks.) The European Central Bank (ECB) is running its printing presses at maximum capacity. And earnings are up sharply at […]
In my October 11 post, I argued that the ISX stands a reasonable chance of joining this year’s emerging markets rally. Today, I’d like to make an even more audacious claim: in 2011, inflows of foreign money could potentially make Iraq the world’s top performing market. You can get some idea of the upside potential […]
This hasn’t been a great year for Iraqi stocks by any stretch of the imagination. As measured by Rabee Securities’ dollar-based index, as of October 7 the market is down 10% year-to-date. And with index constituent stocks with a total weighting of something like 40% currently suspended from trading and Warka Bank (BWAI) no longer […]
