Report: ML Weekly
Utilities, Precious Metals, Real Estate, Canada, France are among the worst
Source: ML
You will be able to download all slides in power point for this reportChart In This Weekly: Emerging Market Dollar Debt Issuers Overlook Troubles if Dollar Gets Stronger MidLincoln Tales/Comics Rob Saunders, portfolio manager at RedSun Asset Management in Lincoln Nebraska has ordered tom yum soup at Blue Orchid restaurant on 129 N 10th St in Lincoln. The soup reminded him of 1997 crises and the fall of baht. Was the repeat possible, he thought? He was worried about the level of dollar debt issuance by emerging market companies. But on the other hand it all looked a lot safer this time and much more flexible and China more firmly influencing the region and providing a meaningful cushion. While country balance sheets looked a lot stronger. Still he could part with the idea that the repeat of crisis is possible and what's most uncomfortable is that it will unexpected. He contemplated for a while if his strategic outlook should remain bullish. But then he recalled the rising upward revisions of corporate earnings growth in the emerging markets finished with his soup and started on a chicken curry in a much calmer mood. Best since the start of the week among various stock markets was Ibovespa Brasil Sao Paulo Stock Exchange Index +4.89%, Deutsche Boerse AG German Stock Index DAX +2.85%, Borsa Istanbul 100 Index +2.65%, Nikkei 225 +2.45%, While worst since the start of the week among various stock markets was Karachi Stock Exchange KSE100 Index -1.05%, MICEX Index -0.94%, Russian Trading System Cash Index -0.16%, Hong Kong Hang Seng Index -0.14%, Best week to date in FX space vs. greenback was ZAR +1.87%, BRL +0.70%, RUB +0.60%, While worst week to date in FX space vs. greenback was AZN -2.50%, EUR -1.58%, CAD -1.06%, Best among commodities versus last Friday close was LIVE CATTLE (CME) +5.93%, RBOB GASOLINE (NYMEX) +2.04%, GOLD SPOT +1.15%, While worst among commodities versus last Friday close was NATURAL GAS (NYMEX) -7.98%, COTTON #2 (ICE) -2.37%, COCOA (ICE) -2.00%,