And it will make sense

Source: ML, Bloomberg

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Chart: Worst 20 Markets Last Year Vs. Their YTD Perfromance.. Sub-Saharan Kenya, Nigeria and Ghana - did bad last year and their underperformance is back. While Turkey, Israel and Bosnia are bouncing strongly despite last year troubles Source: ML Download file in Power Point Comment Weekly performance is between 2017-04-20 and 2017-04-14 Best global markets last week USA +1.16%, EUROPE +0.56%, EM LATIN AMERICA +0.14%, While worst global markets last week EFM ASIA -0.46%, FM (FRONTIER MARKETS) -0.40%, EM (EMERGING MARKETS) -0.21%, US equities the boldest contrarian trade right now Fund managers rotate from US to eurozone stocks Ian Cowie: Beep, beep! The best way to tackle emerging markets The Emerging Markets Consumer Stirs Again China's Stocks Refuse to Drop More Than 1% China Stocks Head for 2017's Worst Week Amid Crackdown Concerns Barclays Said to Plan More Than 20 Hires at Europe Equities Unit Allocations to European equities hit 15-month high despite election ... Offshore Crude Backlog Haunts Oil Price Recovery Gulf states reassure market that supply deal holds firm after oil ... Usiminas sees Brazil domestic steel price premium unsustainable Surging Coking Coal Could Lift Steel Prices in China Current Gold rate: Check out the current gold price Gold Price: Find all the latest gold rate charts and news Best since the start of the week among various stock markets were POLAND +2.97%, TRINIDAD AND TOBAGO +2.70%, HUNGARY +2.63%, TURKEY +2.21%, SPAIN +2.01%, PAKISTAN +1.89%, SRI LANKA +1.72%, LITHUANIA +1.65%, ESTONIA +1.64%, ITALY +1.56%, While worst since the start of the week among various stock markets were TUNISIA -5.23%, BANGLADESH -3.42%, NORWAY -2.78%, LEBANON -2.50%, SAUDI ARABIA DOMESTIC -2.29%, BAHRAIN -2.14%, KUWAIT -2.07%, QATAR DOMESTIC -1.94%, OMAN -1.88%, PHILIPPINES -1.87%,