Bond Market in Iraq Surges!

Coincident with the troop surge, the bond market has also surged:

While the war in Iraq has dragged Bush's approval ratings lower, his policies in Iraq have turned around investor opinion on Iraqi debentures. The addition of 28,000 troops in the first half of the year has reduced terrorist attacks in the country by 55 percent, the U.S. embassy in Iraq said on Nov. 18.

``We've had a shift in sentiment,'' said Gorky Urquieta, who oversees $14 billion of emerging-market debt at ING Investment Management in The Hague. ING started buying the securities last month, and is now among the biggest holders along with San Mateo, California-based Franklin Templeton Investments and Baltimore- based T. Rowe Price Group Inc., data compiled by Bloomberg show. ``There's optimism the surge is starting to pay off,'' he said.