Qatar: Latest deadline expires later today – ING

Threats of further economic sanctions by the Saudi coalition against Qatar could emerge tomorrow, should Qatar not deliver a sufficient response by tonight’s deadline, points out the research team at ING.

Key quotes

“Qatar is accused of supporting terrorism and amongst many demands has been told to shut down the Al Jazeera news organization – a move decried by most of the Western press. Qatar financial markets remain under pressure, with spot $/QAR still trading well above the 3.64 peg, the 12m forward still wide  at +625pts and the one year sovereign CDS still at 117 (vs 60 pre-crisis). The US, Russia and Germany amongst others are trying to broker a truce, but the possibility of further action will keep QAR assets on the defensive short term.”