What Oil Recovery? Saudi Borrowing Costs Spike To 7 Year Highs
![What Oil Recovery? Saudi Borrowing Costs Spike To 7 Year Highs What Oil Recovery? Saudi Borrowing Costs Spike To 7 Year Highs](https://5ux.com/sites/5ux.com/files/styles/medium_250/public/resize/remote/179c04069d86ce3f15a9cf6d5ad3b032-600x312.jpg?itok=KTnVBLrd)
Despite oil's rebound off cyclical lows and the world's exuberance that the energy space may be saved (on the basis of headline-reading algos pumping momentum into commodity futures products that only leveraged Chinese speculators could find value in), something ugly is occurring in Saudi Arabian money-markets.There appears to be a growing funding squeeze in The Kingdom as 3-month interbank rates spike above 2% for the first time since Jan 2009 prompting King Salman to approve a 'post-oil economic plan'.