istoric avg @llx PE and rerated to 18x =SCI EM inclusion with Qatar up +60% (vs +9% prey year) 6. Saudi risk indicators at 2015 =re-crisis levels a Saudi Syr =DS is trading at 76 vs 40-210 3yr range; SAR 2yr fwd suggests market is less =orried about depeg fears and forward points can be used as a macro he