Egypt has declared its readiness to support Saudi Arabia in its conflict with Houthi militants in Yemen, reaffirming shared security interests and joint condemnation of recent attacks on Saudi targets. Market odds anticipate a declining likelihood of Houthi forces advancing toward Aden, with a probability of 5.3% by October 2026, down from 12% a week ago. The odds for Houthi entry by December 2026 stand at 25.5%. Market participants appear to be pricing in the possibility that Egyptian support could strengthen Saudi defensive capabilities and deter Houthi advances.
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