image

May 16, 2017

Best 15 Markets Yesterday

CountryChangePct
AUSTRIA3.52
COLOMBIA2.24
RUSSIA1.92
PERU1.62
PAKISTAN1.54
POLAND1.54
CHILE1.36
SOUTH AFRICA1.30
BRAZIL1.23
KUWAIT1.19
SPAIN1.13
CANADA1.10
ZIMBABWE1.09
ITALY1.08
ISRAEL1.08

Worst 15 Markets Yesterday

CountryChangePct
NIGERIA-3.15
TUNISIA-2.58
KAZAKHSTAN-2.36
LEBANON-1.58
UNITED ARAB EMIRATES-1.31
PORTUGAL-1.07
GREECE-0.93
BANGLADESH-0.85
EGYPT-0.83
OMAN-0.82
PHILIPPINES-0.58
MAURITIUS-0.52
CROATIA-0.39
JAPAN-0.38
VIETNAM-0.32

Best 10 Markets YTD

CountryChangePct
ARGENTINA43.08
POLAND33.07
JAMAICA32.02
AUSTRIA25.18
KOREA24.72
SPAIN22.85
KAZAKHSTAN22.77
ROMANIA22.50
TURKEY21.58
INDIA21.00

Worst 10 Markets YTD

CountryChangePct
OMAN-12.03
LEBANON-8.05
RUSSIA-5.18
TUNISIA-4.03
SAUDI ARABIA DOMESTIC-3.73
QATAR-2.51
QATAR DOMESTIC-2.43
TRINIDAD AND TOBAGO-1.60
JORDAN-1.27
CANADA0.10

Best 10 Markets Last 12 months

CountryChangePct
JAMAICA55.46
AUSTRIA44.10
BRAZIL43.90
KAZAKHSTAN42.05
BULGARIA41.74
TAIWAN38.80
KOREA33.86
PAKISTAN33.49
ARGENTINA32.90
POLAND32.54

Worst 10 Markets Last 12 months

CountryChangePct
NIGERIA-28.27
TUNISIA-19.97
BOTSWANA-18.44
GHANA-14.64
OMAN-12.88
SLOVENIA-12.21
EGYPT-11.89
BOSNIA AND HERZEGOVINA-11.14
ISRAEL-8.53
KENYA-6.91

Country USD Yields and Week Changes

CountryAverage YieldYield Average WkChange % pts
Bolivia4.960.08
Tunisia6.100.06
Indonesia4.120.05
Costa Rica6.180.03
Philippines3.310.02
Ethiopia6.580.02
Turkey5.070.02
Sri Lanka5.290.01
Lebanon6.050.01
Jordan5.870.01
Dominican Republic5.300.01
Poland2.740.00
Slovak Republic2.460.00
United States0.990.00
Panama3.530.00
Egypt5.99-0.01
Malaysia3.47-0.01
Hungary3.33-0.01
Lithuania2.49-0.01
Paraguay5.53-0.01
Vietnam4.30-0.01
India3.90-0.01
China3.05-0.01
Chile2.98-0.01
Romania3.60-0.02
Cote D'Ivoire (Ivory Coast)6.33-0.02
Morocco3.41-0.02
Pakistan5.05-0.02
Jamaica5.81-0.02
Trinidad and Tobago4.77-0.03
Mongolia5.92-0.03
Croatia (Hrvatska)3.58-0.03
Oman4.64-0.03
Serbia3.45-0.03
Russian Federation3.93-0.04
Uruguay4.31-0.04
Peru3.84-0.04
Mexico4.50-0.04
Colombia4.10-0.05
Argentina6.30-0.06
Azerbaijan4.81-0.06
South Africa4.91-0.06
Kazakhstan4.58-0.07
Zambia7.73-0.07
Brazil4.78-0.08
Nigeria6.89-0.09
El Salvador8.49-0.11
Kenya6.56-0.11
Angola8.64-0.12
Ecuador8.66-0.15
Gabon6.56-0.15
Ghana8.15-0.18
Iraq7.81-0.24
Ukraine7.65-0.29
Venezuela24.96-0.58

Chart: New Silk Road From Beijing to Barcelona

The world before New Silk Road 225bn$ soft power push – and after will be different

Source: ML

Download file in Power Point


Comment

Weekly performance is between 2017-05-15 and 2017-05-12

Best global markets last week EM LATIN AMERICA +1.24%, EM (EMERGING MARKETS) +0.78%, EFM ASIA +0.62%,

While worst global markets last week FM (FRONTIER MARKETS) 0.14%, USA 0.49%, EUROPE 0.59%,
  • Gundlach: Ditch U.S. Equities for Emerging Markets
  • Move Over U.S., the Stampede Is On for European Equities
  • Our favourite way to invest in emerging markets
  • EMERGING MARKETS-Latam markets rise as commodities track oil ...
  • Chinese stocks fall on weak data; other Asian markets rise
  • China stocks slip, c.bank injection partially offsets regulation worries
  • Move over, US, the stampede is on for European equities
  • Why stock-market investors are falling back in love with Europe
  • Oil prices bounce higher as ministers promise crude cuts until 2018
  • Higher Prices Raise Norway's Oil Export Value By 30% Y/Y In April
  • Steel Price Forecast, April 2017: US Steel to Invest in Plants
  • Argentinian steel prices stable as mills refuse to budge
  • Gold price: Find all the latest trends and news about Gold
  • Gold prices now a function of rate hike by US Fed

    Best since the start of the week among various stock markets were AUSTRIA +3.52%, COLOMBIA +2.24%, RUSSIA +1.92%, PERU +1.62%, PAKISTAN +1.54%, POLAND +1.54%, CHILE +1.36%, SOUTH AFRICA +1.30%, BRAZIL +1.23%, KUWAIT +1.19%,

    While worst since the start of the week among various stock markets were NIGERIA -3.15%, TUNISIA -2.58%, KAZAKHSTAN -2.36%, LEBANON -1.58%, UNITED ARAB EMIRATES -1.31%, PORTUGAL -1.07%, GREECE -0.93%, BANGLADESH -0.85%, EGYPT -0.83%, OMAN -0.82%,

    News

    Best 10 Market Since the begining of the week


    AUSTRIA 3.52


  • Austrian President calls on all women to wear headscarves in ...
  • Austria's Conservatives Bet on 'Wunderkind' Kurz to Defeat Far-Right
  • Tracking how many key positions Trump has filled so far
  • Austria: Mining, Minerals and Fuel Resources
  • Growing immigration will 'keep Austria young'
  • Austria aims to boost wine exports
  • Fitch Affirms Sovereign Ratings Of Austria & Portugal
  • The Dawn of the Ultra-Long Bond
    Econ events
    momenteventForecastConsensus
    2017-05-17Inflation Rate MoM APR0.003
    2017-05-17Inflation Rate YoY APR0.023

    COLOMBIA 2.24


  • Colombia disarmament deadline might slip, says President Santos
  • President Trump Welcomes Officials from UAE, Turkey and ...
  • Colombia's CEOs follow global trend in optimism, claims PwC survey
  • Fitch Ratings Upgrades Colombia's Sovereign Rating to Stable from ...
  • Not one of Colombia's state institutions passes corruption risk test
  • Colombia's exports dropped another 13% in 2016
  • Who Gains from Colombia's Vote for Permanent War?
  • Colombia's debt head says fiscal reforms on track
    Econ events
    momenteventForecastConsensus
    2017-05-16Consumer Confidence APR-16.86
    2017-05-18Imports YoY MAR0.1
    2017-05-18Balance of Trade MAR$-1.3B

    Companies Reported Yesterday Include:
    CompanyCountrySectorReported
    Banco Davivienda SACOLOMBIAFinancials5/15/2017

    Companies that will report Today:
    CompanyCountrySectorReported
    Grupo Argos SA/ColombiaCOLOMBIAMaterials5/16/2017
    Grupo Argos SA/ColombiaCOLOMBIAMaterials5/16/2017

    RUSSIA 1.92


  • Report: President Trump Revealed Classified Information to Russia
  • Here's what we know so far about Team Trump's ties to Russian ...
  • Putin Approves Russian Economic Security Strategy Until 2030
  • Russia's investment flop shows flawed recovery
  • West Hollywood's Russian Population Is Rapidly Shrinking
  • Putin urges Chinese premier to keep positive trend in bilateral trade ...
  • Russia budget math breaks in Opec's favour, for now
  • €23m recouped on Quinn Russia debt
    Econ events
    momenteventForecastConsensus
    2017-05-17GDP Growth Rate YoY Prel Q10.004
    2017-05-18Industrial Production YoY APR0.009

    Companies Reported Yesterday Include:
    CompanyCountrySectorReported
    Acron PJSCRUSSIAMaterials5/15/2017
    Acron PJSCRUSSIAMaterials5/15/2017
    Bashneft PJSCRUSSIAEnergy5/15/2017
    Bashneft PJSCRUSSIAEnergy5/15/2017
    VTB Bank PJSCRUSSIAFinancials5/15/2017
    VTB Bank PJSCRUSSIAFinancials5/15/2017

    Companies that will report Today:
    CompanyCountrySectorReported
    AFI Development PLCRUSSIAReal Estate5/16/2017
    Mosenergo PJSCRUSSIAUtilities5/16/2017
    Mosenergo PJSCRUSSIAUtilities5/16/2017
    M.Video PJSCRUSSIAConsumer Discretionary5/16/2017

    PERU 1.62


  • Peru's president opposes early release for Alberto Fujimori
  • Peru's Economy Remains Resilient Despite Floods
  • Peru's Economy Remains Resilient Despite Floods
  • Entel to focus on LTE-A, fiber in 3-year Chile, Peru investment plan
  • As toll from Peru's storms mount, capitalists see new source of profits
  • Peru quadruples frozen avocado exports to Israel
  • Peru lifts 2017 budget to deal with extreme flooding
  • Peru authorizes state-run oil firm to issue up to $2 billion in bonds
    Econ events
    momenteventForecastConsensus
    2017-05-15GDP Growth Rate YoY MAR0.004

    PAKISTAN 1.54


  • PM, Belarusian President discuss bilateral ties
  • Hong Kong police on high alert as Pakistan prime minister visits city ...
  • Pakistan for synergetic partnerships across regions to ensure socio ...
  • Pakistan shows strong growth, reduction in fiscal deficits: Moody's
  • Celebrity activists and social media are changing attitudes towards ...
  • Service exports jump 56pc
  • Budget deficit likely to go up further
  • Is Pakistan's debt really a problem?

    POLAND 1.54


  • Poland, Latvia boosting regional security together: Latvian president
  • President Jokowi holds bilateral meeting with Polish prime minister
  • Poland's Economic Growth Accelerates
  • Poland's investment declines at fastest pace in 6 years
  • Poland population dropped by a million since joining EU
  • HSBC: Rapid growth forecast for Polish service exports
  • Capital Project Delays are Stifling Growth and Hurting Communities
  • Polish state bank BGK places 1.2 bln zlotys in bonds
    Econ events
    momenteventForecastConsensus
    2017-05-15Current Account MARˆ -210M
    2017-05-15Balance of Trade MARˆ295M
    2017-05-15Current Account MARˆ -210M
    2017-05-15Balance of Trade MARˆ295M
    2017-05-16GDP Growth Rate YoY Prel Q10.037
    2017-05-16GDP Growth Rate QoQ Prel Q10.007
    2017-05-17Interest Rate Decision 0.015
    2017-05-18Corporate Sector Wages YoY APR0.047
    2017-05-18Employment Growth YoY APR0.047

    CHILE 1.36


  • Chile Ex-President Sebastian Piñera Declares a $600m Fortune
  • Minister Duclos to visit Argentina and Chile to discuss poverty ...
  • Digital banking propels Chile's economic growth
  • Copper Won't Lead Chile's Investment Recovery
  • Americas' Poor Turn South as Trump Looks to Block the Road North
  • Chile ETF: Moderate Growth In The Coming Months
  • Chile Puts Its Reputation Above Stimulus in 2017 Budget
  • Anti-Torture Law Helps Pay Off Chile's Debt to Human Rights
    Econ events
    momenteventForecastConsensus
    2017-05-18Current Account Q1$ 734.2M
    2017-05-18GDP Growth Rate YoY Q10.002
    2017-05-18GDP Growth Rate QoQ Q1-0.007
    2017-05-19Interest Rate Decision 0.0275

    Companies that will report Today:
    CompanyCountrySectorReported
    CAP SACHILEMaterials5/16/2017
    SACI FalabellaCHILEConsumer Discretionary5/16/2017

    SOUTH AFRICA 1.30


  • South Africa's President Jacob Zuma Endorses Ex-Wife for Party ...
  • Former British Prime Minister Tony Blair graces South African soil to ...
  • African economic growth will remain weak, IMF says
  • 'Nuclear can't work in current growth environment'
  • Uganda's population growth puts spotlight on food
  • South Africa's rand poses big problems for currency traders
  • South Africa budget almost avoids tax hikes for businesses to plug ...
  • Africa's debt spree: Precursor to a new debt crisis?
    Econ events
    momenteventForecastConsensus
    2017-05-17Retail Sales YoY MAR-0.014
    2017-05-17Retail Sales MoM MAR-0.002

    Companies Reported Yesterday Include:
    CompanyCountrySectorReported
    Barloworld LtdSOUTH AFRICAIndustrials5/15/2017
    Netcare LtdSOUTH AFRICAHealth Care5/15/2017
    Sappi LtdSOUTH AFRICAMaterials5/15/2017
    Vodacom Group LtdSOUTH AFRICATelecommunication Services5/15/2017

    BRAZIL 1.23


  • Brazil: President Temer's first year after impeachment
  • Spain, Brazil Want EU-Mercosur Deal, Worry About Venezuela
  • Why IMF Slashed Brazil's Economic Growth Outlook in 2017
  • Brazil infra sector set to benefit from PPI investment program
  • Reforms end three years of turmoil and recession in Brazil
  • GM and Toyota to boost Brazil exports
  • Brazil Budget Gap Widens More Than Forecast as Revenue Falls
  • Brazil's debt to climb further in coming years: official
    Econ events
    momenteventForecastConsensus
    2017-05-15IBC-BR Economic Activity MAR0.006
    2017-05-17Business Confidence MAY53.4

    Companies Reported Yesterday Include:
    CompanyCountrySectorReported
    Braskem SABRAZILMaterials5/15/2017
    BR Malls Participacoes SABRAZILReal Estate5/15/2017
    Banco do Estado do Rio Grande do Sul SABRAZILFinancials5/15/2017
    Cia Paranaense de EnergiaBRAZILUtilities5/15/2017
    JBS SABRAZILConsumer Staples5/15/2017

    KUWAIT 1.19


  • Macron takes power as French president – Amir sends congratulations
  • Security key to development, Arab Spring an 'illusion': PM
  • Kuwait's economy to shrink by 0.2% this year: IMF – Oil output cuts ...
  • BRIEF-Kuwait Investment Authority postpones sale of stake in ...
  • Kuwait population rises to 4.33 mln
  • Beximco in milestone achievement with Kuwait exports
  • Kuwait '35 vision tangible strides, clear reforms to build ...
  • Kuwait says to increase debt ceiling, permit longer-dated bonds
    Econ events
    momenteventForecastConsensus
    2017-05-15M2 Money Supply YoY MAR
    2017-05-15Private Bank Lending YoY MAR

    Worst 10 Market Since Begining of the Week


    NIGERIA -3.15


  • Pray for good health of President Buhari, APC enjoins Nigerians
  • France's Macron appoints Edouard Philippe as prime minister
  • Nigeria: 2017 Budget Will Galvanise Economic Growth - Legislator
  • Nigeria: Investment in Lekki Free Trade Zone hits $15b
  • Nigeria's population census: A historical perspective
  • Nigeria Strategy Report Q2 2017 Outlook - Domestic Economic and ...
  • Nigeria: Budget 2017 - Celebration of National Disgrace
  • Adeosun: Nigeria's debt not too high, but revenue just too low
    Econ events
    momenteventForecastConsensus
    2017-05-16Inflation Rate YoY APR0.171
    2017-05-16Food Inflation YoY APR0.1845
    2017-05-18GDP Growth Rate YoY Q10.004
    2017-05-18GDP Growth Rate QoQ Q1-0.1294

    TUNISIA -2.58


  • Tunisian President Orders Army to Protect Oil and Gasfields
  • Tunisia will restrict some imports to tackle trade deficit: PM
  • Tunisia economic growth picks up in first quarter
  • Tunisia investment conference aims to kickstart economy
  • Tunisia's Leader Vows to Deliver on Demands of the Revolution
  • UAE- Tunisa's exports down 3.3%, imports up 5.8% in Q1 2017
  • Tunisia: budget deficit exceeds 4 billion dinars at end November
  • Regional partners pledge billions in help for Tunisia
    Econ events
    momenteventForecastConsensus
    2017-05-15Balance of Trade APR

    KAZAKHSTAN -2.36


  • Kazakh President, Chinese Premier discuss ties
  • Kazakhstan's Prime Minister receives UAE ambassador
  • EBRD forecasts economic growth in Kazakhstan
  • Kazakhstan's Renewable Energy Quest
  • Central Asia's Population Growth
  • Kazakhstan's exports forecast to grow by 15.2% in 2017
  • Government proceeds with privatising state property, says vice ...
  • Kazakhstan's Debt Focus Turns Domestic as Bond Buyback an Option
    Econ events
    momenteventForecastConsensus
    2017-05-15Unemployment Rate APR0.049
    2017-05-15Retail Sales YoY APR0.065
    2017-05-15GDP YTD APR0.044

    LEBANON -1.58


  • New LDS stake president announced
  • Lebanon Prime Minister Saad Hariri calls for economic development
  • Lebanon Prime Minister Saad Hariri calls for economic development
  • Gorsuch a much-needed win for Trump, GOP
  • Lebanese vent frustrations over strained economy
  • Chief Lebanese Industrialist: Gulf Markets Represent 30% of ...
  • Lebanon budget to go to hearing
  • Barclays keeps Lebanon's debt at Neutral

    UNITED ARAB EMIRATES -1.31


  • Egypt's president visits staunch ally United Arab Emirates
  • Expat minister off to UAE to create more jobs
  • IMF Staff Completes 2017 Article IV Mission to the United Arab ...
  • A roundup of Emirates Investment Bank's 2017 GCC Wealth Insights ...
  • Political ambition stymied by a numbers game
  • Emirates SkyCargo is reaching into US market
  • UAE govt approves higher federal spending for 2015 - PM
  • UAE Bonds Pulling Away as Cash Reserves Beat OPEC Woes

    PORTUGAL -1.07


  • Portugal's leaders celebrate historic Eurovision Song Contest victory
  • Pope Francis canonises two children at Portugal's Fatima shrine
  • Portugal's winning streak continues with strong Q1 economic growth
  • DBRS maintains Portugal's investment grade rating with stable outlook
  • Sustained growth for Portuguese festival market
  • Textile, clothing exports up 5%, beating 2020 sector target of €5bn
  • Portugal raises wages and keeps deficit low
  • Portugal debt agency official says worried about liquidity, QE exit
    Econ events
    momenteventForecastConsensus
    2017-05-15GDP Growth Rate YoY Prel Q10.022
    2017-05-15GDP Growth Rate QoQ Prel Q10.005
    2017-05-15GDP Growth Rate YoY Prel Q10.022
    2017-05-15GDP Growth Rate QoQ Prel Q10.005
    2017-05-17PPI YoY APR0.04
    2017-05-17PPI MoM APR0.003
    2017-05-18Current Account MARˆ 360.9M

    GREECE -0.93


  • Greek President backs China's “One Belt, One Road” Initiative
  • Energy tops the agenda of Greek prime minister's visit to Beijing
  • Greece returns to recession after bailout battle dragged on Greek ...
  • Greece offers no increase in taxes to attract big investments
  • Cities urged to 'embrace new reality' of mass migration
  • Exports of medicines the second biggest category for Greece
  • Greek Jan-April central govt budget surplus beats target on lower ...
  • IMF chief urges Eurozone to progress on Greece debt relief package
    Econ events
    momenteventForecastConsensus
    2017-05-15GDP Growth Rate YoY Prel Q1-0.002
    2017-05-15GDP Growth Rate QoQ Prel Q1-0.004
    2017-05-15GDP Growth Rate YoY Prel Q1-0.002
    2017-05-15GDP Growth Rate QoQ Prel Q1-0.004

    BANGLADESH -0.85


  • Justice Karnan maybe in Nepal or Bangladesh, we want President ...
  • Clinton Pressured Bangladesh Prime Minister to Help Major ...
  • Bangladesh heading for fastest economic growth in FY17
  • Two-day Bangladesh Development Conference begins at Harvard ...
  • Reforms end three years of turmoil and recession in Brazil
  • The Promising Future of Inland Waterway Trade in South Asia
  • Next budget to be 'best' in my life: Muhith
  • Emergence of South Asia as the fastest growing region is a major ...
    Econ events
    momenteventForecastConsensus
    2017-05-15Inflation Rate YoY APR0.05
    2017-05-15Inflation Rate YoY MAR0.048

    EGYPT -0.83


  • October 6, 1981: Egypt's President Anwar Sadat assassinated over ...
  • October 6, 1981: Egypt's President Anwar Sadat assassinated over ...
  • Egypt economic growth
  • Investment banks to expand their investments in Egypt: Nasr - Daily ...
  • Forget ISIS, Egypt's Population Boom Is its Biggest Threat
  • Egyptian sugar production to increase by 7% in MY 2017/2018 ...
  • Egypt's budget deficit hits $10.8bn
  • Yields Fall at Egypt Debt Sale as Weaker Pound Lures Foreigners
    Econ events
    momenteventForecastConsensus
    2017-05-15Unemployment Rate Q10.125

    Companies Reported Yesterday Include:
    CompanyCountrySectorReported
    Telecom Egypt CoEGYPTTelecommunication Services5/15/2017

    OMAN -0.82


  • Karoubi to vote for Rouhani in Iran's presidential election
  • Oman's Sayyid Fahd receives Turkish Deputy Prime Minister ...
  • IMF sees Oman's GDP growth rebounding to 3.8% in 2018
  • OTF signs MoU with Pakistan-Oman Investment Company
  • A new high: Qatar's population closes in on 2.7 million people
  • Oman exports more LNG in move with implications for oil
  • Oman seems to have got a grip on its reform priorities
  • S&P cuts Oman debt to junk as cheap oil shrinks external reserves
    Econ events
    momenteventForecastConsensus
    2017-05-15M2 Money Supply YoY MAR
    2017-05-15Total Credit YoY MAR
    2017-05-15Budget Balance MAROMR -365.1M
    2017-05-15Current Account MARˆ -176.3M

    Our Recent Research Reports

  • 2017-05-15 ML Sectors Strategy Weekly
  • 2017-05-15 ML Fixed Income Queries and Stance Weekly
  • 2017-05-15 ML Weekly (with correct links)
  • 2017-05-12 ML Morning Meeting
  • 2017-05-12 ML IPO Watch Weekly
  • 2017-05-12 ML Commodities Weekly

    Recent Chart Art

    New Silk Road From Beijing to Barcelona

    Download file in Power Point    		Bond Yields is a one good reason for European stock performance. Not?

    Download file in Power Point    		Spike in HK yields is mostly caused by dislocation in coal markets which caused record losses for HK trader Noble Group. Yields spike..

    Download file in Power Point
    Energy Sector is the worst in global equity sectors performance ytd.

    Download file in Power Point    		Average IPO Performance to date by country % this year.

    Download file in Power Point    		Betting on European Election - Choose DAX

    Download file in Power Point
    Russian carry trade - does it all stops here?

    Download file in Power Point    		Gold funds inflows slow down… Will the gold price follow?

    Download file in Power Point    		Czech, Russia, Poland and Egypt equities are way off their pre-Lehman highs..

    Download file in Power Point