Source: ML, BlackRock

You will be able to download all slides in power point for this report



Tactical Stance - Neutral Strategic Stance - Bullish Best since the start of the week among various stock markets was Borsa Istanbul 100 Index +4.91%, Mexican Stock Exchange Mexican Bolsa IPC Index +4.04%, Deutsche Boerse AG German Stock Index DAX +3.41%, Russian Trading System Cash Index +3.38%, While worst since the start of the week among various stock markets was Karachi Stock Exchange KSE100 Index -1.13%, Shanghai Stock Exchange Composite Index -0.45%, S&P BSE SENSEX Index -0.32%, Hong Kong Hang Seng Index -0.10%, Best week to date in FX space vs. greenback was TRY +0.46%, PKR +0.37%, CNY +0.02%, While worst week to date in FX space vs. greenback was NOK -2.02%, ZAR -2.00%, AUD -1.75%, Best among commodities versus last Friday close was WTI CRUDE OIL (NYMEX) +3.44%, COTTON #2 (ICE) +3.15%, PLATINUM SPOT +1.91%, While worst among commodities versus last Friday close was RBOB GASOLINE (NYMEX) -2.49%, LIVE CATTLE (CME) -1.11%, BRENT CRUDE (ICE) 0.57%, Chart In This Weekly: Emerging Markets swing from overbought to oversold MidLincoln Tales/Comics Rob Saunders a PM at imaginary Red Sun Asset Management in Lincoln Nebraska has been evaluating his losses after he bet on Fed hike last week. He was caught of emerging markets bonds, currencies and equities. He was contemplating whether to close these shorts as another hike was looming, probably after the US election. Our Recent Research Reports 2016-09-26 ML Fixed Income Weekly 2016-09-26 ML Commodities Weekly 2016-09-23 ML Morning Meeting 2016-09-23 ML Agri Business Weekly 2016-09-22 ML Morning Meeting 2016-09-22 ML Fund Atlas 2016-09-21 ML Morning Meeting 2016-09-21 ML Real Estate Weekly Key Country News News China Barack Obama's 'Asian pivot' failed. China is in the ascendancy /.../ Prime Minister announces increased collaboration with China /.../ China slowdown is global economy's biggest threat, Rogoff says /.../ Chinas investment growth steady in August, industrial output and ... /.../ Population Growth Extremes: Doublers and Decliners /.../ China exports fall 2.8% in August on year /.../ Defence Security: The Next Sunrise Industry? /.../ China warned to rein in growing mountain of debt or risk triggering ... /.../ South Africa South African Mining Union Backs Ramaphosa to Be ANC's President /.../ Indian Navy warships conclude South African visit /.../ South Africa: Investment in Health Workforce Will Drive Economic ... /.../ South Africa: Investment in Health Workforce Will Drive Economic ... /.../ KWESE Sports, a new African venture, announce R100k FIFA ... /.../ South Africa: Moody's Underwhelmed By SA Growth Figures /.../ Special voluntary disclosure: More stick than carrot? /.../ SA's Debt to GDP Highest Among Emerging Market Peers - Report /.../ Australia Australia's attack on troops 'intentional' /.../ PNG Prime Minister's XIII reflect after tough loss to Australia /.../ GDP: Happy 25th birthday to Australia's economic growth /.../ Early progress in Myer repair job but more to do /.../ Population Ponzi scheme /.../ Event showcases why Australian businesses are looking to Asia for ... /.../ WA Treasurer Nahan "shields" the people from the bust /.../ China warned to rein in growing mountain of debt or risk triggering ... /.../ Korea South Korea's President Has No Easy Options in Dealing with an ... /.../ Japanese Prime Minister Abe calls for resolute UN action against ... /.../ Malaysia to emulate Korea's economic model /.../ North Korea Needs Foreign Investment, But Has Done Little to Attract It /.../ Africa: Motorcycles Set to Become Main Mode of Transport in Africa /.../ S. Korea's exports to China shrink for 14 consecutive months /.../ S.Korea's 2017 budget reaches 360 bln dollars on rising welfare ... /.../ Joint effort to bail out Korea's debt-laden shipper Hanjin /.../ India Spicejet chairman Ajay Singh elected president of Boxing ... /.../ India's prime minister says Pakistan a haven for terrorism /.../ Why India is not the new China /.../ India's investment cycle has no signs of recovery for another year /.../ Religion not the cause for Indian population growth, development is /.../ 'India's exports turning corner, pick up likely from Oct' /.../ India to merge rail and federal budgets, ending colonial-era practice /.../ StanChart woes encapsulate India's debt problem /.../ Canada Native Women's Association of Canada appoints interim president /.../ Watch Prince George Snub Canadian Prime Minister Justin ... /.../ OECD cuts Canada's economic growth forecast as global economy ... /.../ IFC arranges financial package to build solar plant in northern Jordan /.../ Getting Older is Cruelest Blow to Global Growth, Just Ask Canada /.../ Canada's rates to stay low, businesses should adjust -central ban... /.../ Budget watchdog: tax credit for PEI's bridge tolls would cost $2.5M /.../ Michelle Hauser: Canada's debt-induced anxiety /.../ Turkey Turkey's Erdogan: Assad Is Responsible for Aid-Convoy Attack /.../ Saudi Crown Prince to visit Turkey /.../ Turkey: Economic Growth to Be Possibly Influenced in Q3 /.../ Iran energy fires up Turkey's investment zest /.../ Tune-Up on Fall Turkey Hunting Tactics /.../ Expo Turkey to be held in Qatar to enhance trade network in MENA /.../ Turkey's budget deficit at $7.4 billion for 2015 /.../ Moody's downgrades Turkey's debt ratings /.../ Brazil Brazil President Being Investigated for Involvement in the Petrobras ... /.../ Brazil urges India to broaden MERCOSUR presence /.../ Brazil's new government needs economic growth and may sacrifice ... /.../ Spain says political logjam no impediment to investment by foreign ... /.../ Steering committee meets to lead in comprehensive plan for City of ... /.../ Brazilian shoe exports on the march /.../ Brazil to use repatriation funds to avert spending freeze: source /.../ Tale of Eldorado does little to dampen Brazilian bond allure /.../ Russia What accounts for Russian President Vladimir Putin's popularity? /.../ Russian Deputy Prime Minister Says Cairo Airport's Security Improved /.../ Kudrin: State-owned companies thwart Russia's economic growth /.../ Asian-Pacific Bank Expects Growth of China's Investment to Russia's ... /.../ New market opens for Eastern Europeans in Austin /.../ BRICS countries face challenges /.../ Russia Decries 'Castles in the Sky' as Plans Converge on $40 Oil /.../ Russia's bond comeback lands at regulators' door /.../