Today Dubai faces $3.5 billion debt hurdle

Dubai's stock market did soar for a second consecutive session on Sunday as traders reacted to a surge in Nakheel's bond price last week on mounting speculation it will repay.

Analysts have speculated Nakheel could repay its bond at 70 cents to a dollar and issue new debt for the remainder; a Win-Win situation.

Technical default by Nakheel today could lead to another sell off.