The Egyptian stock market continues to be a very interesting market to watch.
All year it’s served as kind of an extreme, early warning signal for global risk appetite.
In the early days of the year, it surged like crazy, signaling the blistering Q1 that the rest of the world would see.
Then it started falling sharply in early March, right around the time various European markets started getting weak, and a couple weeks before the US rally stalled out.
So it’s worth keeping an eye on it (which you can do easily at Bloomberg.com). It’s also nice because it trades on the weekends, giving market junkies something to watch on what are normally quiet days off.
Anyway, it’s surging today, rallying 2%.