Wednesday, July 22, 2009

The Debts of the Spenders: Karachi Stock Exchange Recovery

*Credit Dying_Bear.

Wow, this rally is really something. I had thought that the BRIC emerging market recovery was something special but the Karachi Stock Exchange (KSE), based in Pakistan also experienced a nice rise. Keep in mind that we are speaking of a country that is widely rumored to shelter Osama bin Laden and run by a military junta which is routinely involved in large scale engagements with insurgents.

So, what is behind Karachi's rise? Is it a return to the mean? Or are Western policymaker's actions starting to have an effect?

*Disclosure - I continue to be short Pakistani politicians and long the possibility of an India-Pakistan WW3.
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