Report: ML Global Strategy May Review/June Preview
e.g. Russia and Brittain were very poor back than.. and were obscure destinations.
You will be able to download all slides in power point for this reportand all data is available excel
(we reiterate our May strategy and send this report again) Investing Alongside New Empires Asian markets turned up winners in May despite China downgrade, followed by European stocks and Frontier stocks while LATAM markets shaken by Brazil conspiracy lagged. Oil priced managed to stay neutral in May but its 9% drop YTD shows that oil price is under pressure anyway ; despite OPEC action. As new tech and new supply from the US manage investor's negative expectations. World has been a bit quieter in May yielding to diplomacy. Key events occurred in Beijing on heavily attended New Silk Roads forum, at G7 meeting in Sicily and on Russian Economic Forum in St. Petersburg which really could be renamed to Petro-Grad Economic Forum given Russia's dependence on petro dollars these days which is best manifested in its equity market, down just as much as Brent, and showing the worst result among our universe of 56 markets. Equity moves this year are highlighting the alternative history course and the rise of old new empires. Kazakhstan (once a part of Sogdiana - biggest leg of the old Silk Road) one of the strongests markets this year, highlighting the return of the Silk Roads. Kazakhstan is the country which benefits the most from the New Belt. Europe is another most interesting destination for equities, showing strange rise of countries of former Austro Hungarian Empire that are the leaders in European markets. Poland and Hungary the ultimate gates to Europe from the Silk Roads are locomotives for European stocks