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November 3, 2017

Best 15 Markets Yesterday

CountryChangePct
PHILIPPINES2.40
AUSTRIA1.93
ESTONIA1.84
PORTUGAL1.56
JAMAICA1.33
HUNGARY1.21
JORDAN1.21
LITHUANIA1.18
BULGARIA0.97
ITALY0.80
INDONESIA0.77
PAKISTAN0.76
TURKEY0.67
MEXICO0.66
SERBIA0.65

Worst 15 Markets Yesterday

CountryChangePct
ISRAEL-2.79
COLOMBIA-2.04
TUNISIA-1.05
THAILAND-0.74
MOROCCO-0.73
CHILE-0.68
GREECE-0.63
NORWAY-0.57
ARGENTINA-0.56
OMAN-0.53
UNITED KINGDOM-0.51
RUSSIA-0.49
DENMARK-0.46
BELGIUM-0.42
POLAND-0.42

Best 10 Markets YTD

CountryChangePct
ZIMBABWE410.82
JAMAICA76.70
GHANA68.46
ARGENTINA67.74
AUSTRIA51.94
POLAND47.68
CHINA47.16
KOREA45.50
KAZAKHSTAN39.47
CHILE36.35

Worst 10 Markets YTD

CountryChangePct
PAKISTAN-26.24
QATAR-19.94
OMAN-15.47
ISRAEL-11.06
BOTSWANA-10.71
LEBANON-7.11
RUSSIA-4.27
JORDAN-1.78
NEW ZEALAND-1.12
SAUDI ARABIA DOMESTIC-0.59

Best 10 Markets Last 12 months

CountryChangePct
ZIMBABWE508.28
JAMAICA97.11
AUSTRIA57.43
ARGENTINA53.98
POLAND50.26
KOREA42.94
ITALY42.81
CHINA41.00
HUNGARY39.27
PERU38.83

Worst 10 Markets Last 12 months

CountryChangePct
EGYPT-26.97
BOTSWANA-22.62
QATAR-17.27
PAKISTAN-17.14
ISRAEL-15.72
OMAN-9.69
LEBANON-8.26
NEW ZEALAND-6.87
UKRAINE-3.88
TUNISIA-1.96

Country Average Sovereign+Corporate USD Yields Ordered By YTD Yield Change

countryYieldYieldChange
Venezuela32.628.93
Canada10.192.02
Israel4.410.21
Qatar3.600.05
Oman4.77-0.16
United States5.56-0.17
Lebanon6.66-0.20
Korea (South)3.81-0.21
Bahrain5.49-0.31
China3.87-0.33
Philippines3.25-0.36
Pakistan5.36-0.40
South Africa5.05-0.42
Germany3.91-0.43
Jordan5.80-0.45
United Arab Emirates3.68-0.49
Thailand2.94-0.51
Trinidad and Tobago4.89-0.52
Morocco3.81-0.63
Peru3.59-0.64
Russian Federation3.84-0.66
Guatemala4.24-0.66
Chile4.37-0.67
Netherlands3.98-0.68
Azerbaijan4.94-0.71
Lithuania2.28-0.74
Poland2.64-0.77
Malaysia3.42-0.79
France5.49-0.79
Cote D'Ivoire (Ivory Coast)5.84-0.81
Romania3.37-0.82
Hungary3.02-0.84
Turkey5.17-0.84
Panama3.52-0.86
Mexico4.40-0.86
Colombia4.32-0.87
Italy4.79-0.87
Indonesia3.76-0.93
United Kingdom5.14-0.96
Croatia (Hrvatska)3.16-1.01
Uruguay3.78-1.07
El Salvador6.79-1.12
Brazil5.27-1.13
India3.87-1.14
Costa Rica5.77-1.22
Serbia3.03-1.33
Ecuador7.28-1.34
Vietnam3.45-1.36
Kazakhstan4.32-1.41
Dominican Republic4.77-1.53
Egypt4.96-1.54
Ghana6.61-1.73
Sri Lanka4.47-1.84
Argentina5.70-1.91
Ukraine6.68-2.02
Jamaica6.58-2.17
Luxembourg8.18-2.76

Chart: US Rail Car Producers and Russia’s United Wagon

United Wagon - Lagging

Source: ML

Download file in Power Point
  • Correction : PhosAgro to Lease 500 New Hoppers
  • United Wagon starts castings shipment for North American freight cars
  • JFK assassination documents and many reasons for conspiracy
  • United Wagon Company signs 5000 freight car deal
  • How Stalin Became Stalinist
  • United Wagon Company to ship 20 wagons to Russian sodium ...
  • 'We are witnessing a rail freight renaissance' – strong sentiment as ...


    Comment

    Weekly performance is between 2017-11-02 and 2017-10-27

    Best global markets week to date EFM ASIA +2.07%, EM (EMERGING MARKETS) +1.54%, EUROPE +1.18%,

    While worst global markets week to date EM LATIN AMERICA -1.88%, FM (FRONTIER MARKETS) -0.84%, USA -0.07%,
  • US Stocks Rise With Dollar on Fed Economy Views: Markets Wrap
  • US Equities Are Very Expensive: Is It Time To Consider Other ...
  • History shows emerging markets can't ignore politics much longer
  • EMERGING MARKETS-Emerging stocks hover near 2-week highs ...
  • China stocks fall as services survey adds to slowdown worries ...
  • Chinese stocks are selling off after a week of steady trade during ...
  • Stock Market News (European Open) – European equities slightly ...
  • European Equities Offer Profit Despite Politics
  • Is This The Cure To Saudi Arabia's Oil Curse?
  • The Remarkable Recovery Of Big Oil
  • AK Steel: Price Target Revised To $6
  • Tata Steel Swings to Quarterly Profit on Volume, Price Gains
  • Gold Rate Today: Gold, silver trade flat in morning deals
  • Randgold boss sees higher gold price

    Best since the start of the week among various stock markets were TURKEY +5.23%, GREECE +4.60%, KOREA +4.56%, PHILIPPINES +3.62%, SPAIN +3.53%, PORTUGAL +3.41%, KENYA +2.97%, EGYPT +2.85%, ZIMBABWE +2.67%, ESTONIA +2.67%,

    While worst since the start of the week among various stock markets were KUWAIT -3.86%, ISRAEL -3.79%, UKRAINE -3.78%, COLOMBIA -3.25%, BRAZIL -2.66%, ARGENTINA -2.47%, PAKISTAN -1.26%, MEXICO -1.09%, TUNISIA -0.89%, GHANA -0.66%,

    News

    Chose Your Country

    Best 10 Market Since the begining of the week


    TURKEY 5.23%

  • macro strategy bonds quick news
  • The fall of a wacky mayor shows Turkey's president is worried
  • Turkish Prime Minister Orders Investigation Into Rocky Balboa Tifo
  • How Turkey's economic growth beat rating giants
  • More renewable investments high on Turkey's energy agenda
  • Invest in Turkey Aims to Bridge 'Perception Gap' in US
  • Turkey's exports increase over 15 percent in October
  • Turkey's budget deficit down over 60 pct in September
  • Egypt settles Turkey debt, makes Libya payment

    Econ events
    momenteventForecastConsensus
    2017-11-03Inflation Rate YoY OCT11.7%
    2017-11-03PPI YoY OCT16.8%
    2017-11-03PPI MoM OCT1.1%
    2017-11-03Inflation Rate MoM OCT1.5%
    2017-11-07Treasury Cash Balance OCT
    2017-11-08Retail Sales YoY SEP2.9%
    2017-11-08Retail Sales MoM SEP0.4%
    2017-11-08Industrial Production YoY SEP4.5%

    Companies Reported Yesterday Include:
    CompanyCountrySectorReported
    Yapi ve Kredi Bankasi ASTURKEYFinancials11/2/2017

    Companies that will report Today:
    CompanyCountrySectorReported
    Anadolu Efes Biracilik Ve Malt Sanayii ASTURKEYConsumer Staples11/3/2017
    Haci Omer Sabanci Holding ASTURKEYFinancials11/3/2017
    TAV Havalimanlari Holding ASTURKEYIndustrials11/3/2017
    Tofas Turk Otomobil Fabrikasi ASTURKEYConsumer Discretionary11/3/2017

    GREECE 4.60%

  • macro strategy bonds quick news
  • Video: Papadopoulos Was Speaking as an Advisor to President ...
  • Greece prime minister says US relationship at its best since WWII ...
  • Greece and China look to promote further economic cooperation
  • Greece's growth undermined by lack of investment
  • Cameron, Murphy vie for seat in Greece's Ward 2
  • Greek Honey Exports to China; Great Growth Potential
  • Greek January-September government budget surplus slightly ...
  • Washington to back Greek call for debt relief

    KOREA 4.56%

  • macro strategy bonds quick news
  • South Korea will not develop or possess nuclear weapons ...
  • South Korean prime minister says he hopes President Trump ...
  • Think tank raises S. Korea's economic growth outlook to 3.1 pct
  • Commentary: Riding the Korean wave
  • Demographic cliff haunts Korea Inc.
  • South Korea Exports, Inflation Miss Expectations in October
  • Russia's visa relaxation shows focus on Far East investment
  • Korea's Debt-to-GDP Ratio Reaches 232%, Up 49% Points over ...

    Econ events
    momenteventForecastConsensus
    2017-11-02Foreign Exchange Reserves OCT$ 387B
    2017-11-03Current Account SEP$9.27B

    PHILIPPINES 3.62%

  • macro strategy bonds quick news
  • Trump boasts of superior relationship with Philippines President ...
  • Canadian Prime Minister to visit Vietnam and Philippines next week
  • The Philippine puzzle: dynamic economy, uncertain politics
  • Private investment outlook in PH seen less promising
  • On this, Church and State agree, population should grow, not shrink
  • Not all deficits are created equal
  • Diokno not alarmed over funding for Build, Build, Build
  • Will building spree hock Philippines to China?

    Econ events
    momenteventForecastConsensus
    2017-11-02Retail Price Index YoY SEP3.2%
    2017-11-07Foreign Exchange Reserves OCT$82B
    2017-11-07PPI YoY SEP0.3%
    2017-11-07Inflation Rate MoM OCT0.3%
    2017-11-07Inflation Rate YoY OCT3.4%
    2017-11-07Core Inflation Rate YoY OCT3.2%
    2017-11-09Interest Rate Decision3%
    2017-11-10Industrial Production YoY SEP4.4%
    2017-11-10Imports YoY SEP
    2017-11-10Exports YoY SEP
    2017-11-10Balance of Trade SEP$-1691M

    Companies that will report Today:
    CompanyCountrySectorReported
    BDO Unibank IncPHILIPPINESFinancials11/3/2017

    SPAIN 3.53%

  • macro strategy bonds quick news
  • Spain seeks to arrest Catalonia's deposed president, jail other top ...
  • Spanish prime minister sacks Catalan government after ...
  • Spanish economic growth maintains pace in Q3
  • S&P Retains Spain's Debt Rating, Warns of Catalonia Tensions
  • Spain seeks to arrest Catalonia's deposed president, jail other top ...
  • Italy and Spain's exports compared in 5 charts
  • If Catalonia left Spain, it would be like London leaving the UK
  • Catalans Seek to Use Spain Debt as Leverage in Secession Tussle

    Econ events
    momenteventForecastConsensus
    2017-11-02Markit Manufacturing PMI OCT54.8
    2017-11-02New Car Sales YoY OCT
    2017-11-0210-Year Obligacion Auction
    2017-11-025-Year Bonos Auction
    2017-11-023-Year Bonos Auction
    2017-11-03Consumer Confidence OCT102.5
    2017-11-03Unemployment Change OCT32.6K
    2017-11-06Markit Services PMI OCT56.2
    2017-11-08Industrial Production YoY SEP2.5%

    Companies that will report Today:
    CompanyCountrySectorReported
    Amadeus IT Group SASPAINInformation Technology11/3/2017
    Repsol SASPAINEnergy11/3/2017

    PORTUGAL 3.41%

  • macro strategy bonds quick news
  • Portugal Is Facing Two Different Realities
  • Portuguese prime minister apologizes as fire death toll rises to 42
  • Portugal Aims to Narrow Budget Deficit to 1% as Economy Grows
  • Spain Too Risky? Buy Portuguese Stocks, Invest Iberia Says
  • As jobs, workers return to Spain and Portugal, so does a sense of ...
  • Portugal to cut debt, boost potential growth
  • Portugal 2016 Budget deficit confirmed at 2 percent
  • Portugal's debt falls below 250 bln euros in September

    Econ events
    momenteventForecastConsensus
    2017-11-08Unemployment Rate Q38.5%
    2017-11-09Balance of Trade SEP?-1210M

    Companies Reported Yesterday Include:
    CompanyCountrySectorReported
    EDP - Energias de Portugal SAPORTUGALUtilities11/2/2017

    KENYA 2.97%

  • macro bonds quick news
  • Kenya Declares President Kenyatta Winner Of Disputed Election
  • Clergy Calls for Creation of Prime Minister Post in Kenya
  • Credible poll drives economic growth
  • Debt, not electoral politics, is the bane of Kenya's economy
  • Kenya's SGR launches inter-county passenger trains as demands soar
  • Somalia rises to third top buyer of Kenya goods
  • Henry Rotich unveils Kenya's Sh2.6 trillion Budget
  • Kenya's debt to rise to 60pc of GDP in 2018 – Moody's Rating

    EGYPT 2.85%

  • macro strategy bonds quick news
  • Evangelical Leaders Joel Rosenberg, Johnnie Moore, Michele ...
  • Japan's Abe re-elected prime minister after big election win
  • IMF Official Says Egypt's Economy Is Seeing `Broad-Based' Growth
  • IFC-led consortium Invests $653m in solar park in Egypt
  • Egypt unemployment rates to rise 3 times if population growth ...
  • Mercosur pact gives furniture exports annual 10% reduction on ...
  • Egypt budget deficit to hit 8.8% of GDP in FY 2017/18: World Bank
  • Egypt's Debt Is No Longer EM's Juiciest Amid Rush to Buy

    Econ events
    momenteventForecastConsensus
    2017-11-03Foreign Exchange Reserves OCT$ 38.7B
    2017-11-05Emirates NBD PMI OCT48
    2017-11-10Core Inflation Rate YoY OCT29.8%
    2017-11-10Inflation Rate YoY OCT30.2%

    Companies that will report Today:
    CompanyCountrySectorReported
    Global Telecom Holding SAEEGYPTTelecommunication Services11/3/2017

    ZIMBABWE 2.67%

  • macro bonds quick news
  • Let's restore death penalty, says Zimbabwe's Robert Mugabe
  • WHO cancels goodwill ambassador role of Zimbabwe prime minister
  • Zimbabwe economy set for 3.5% growth
  • The curse of foreign aid
  • Comparing DStv prices across Africa
  • Trade deficit narrows to $1,45bn on exports growth
  • Zimbabwe: Budget Accountability Necessary for Progress
  • Zimbabwe: MDC-T Accused of Politicking On Debt Firm

    ESTONIA 2.67%

  • macro bonds quick news
  • Estonian President Visits Georgia
  • Georgian Prime Minister and President of Estonia Open Golf ...
  • US think tank: Estonia has the most competitive tax code in the OECD
  • US think tank: Estonia has the most competitive tax code in the OECD
  • Labour productivity exceeds growth of labour costs in Estonia in H1
  • All three Baltic countries posted year-on-year growth in exports for ...
  • Estonia passes 2017 record level budget spending to bolster defense
  • Prime minister reiterates state budget will be balanced again in 2020

    Worst 10 Market Since Begining of the Week


    KUWAIT -3.86%

  • macro strategy bonds quick news
  • Belgium supports Kuwait's bid for Schengen visa waiver, says ...
  • Kuwait's ruler accepts cabinet resignation: state news agency
  • Kuwait, region should sustain growth through economic ...
  • Tax reforms could help Kuwait build non-oil revenue base: IMF
  • Negative expat growth
  • Beximco posts 15.7% sales growth for 2015
  • Kuwait budget in deficit
  • Kuwait likely to approve law to enable 30-year bond issues –official

    ISRAEL -3.79%

  • macro strategy bonds quick news
  • President Rivlin: Israel 'On the Right Path' in Ensuring Equality for ...
  • This week a world leader much worse than Donald Trump is visiting ...
  • Why Our Grapes Have Curdled
  • October 2017 fundraising led by cybersecurity companies
  • Does The Washington Post Even Read The Washington Post?
  • Israel on Track for a Record $100 Billion in Exports in 2017
  • Israel cabinet approves two-year draft budget aimed at boosting ...
  • Kahlon: Tax Windfall to Go Back to the People

    Econ events
    momenteventForecastConsensus
    2017-11-07Business Confidence OCT22.??
    2017-11-07Foreign Exchange Reserves OCT$ 111.3B
    2017-11-08Budget Balance OCTILS -5.2B
    2017-11-10Tourist Arrivals YoY OCT
    2017-11-10M1 Money Supply YoY OCT

    Companies Reported Yesterday Include:
    CompanyCountrySectorReported
    Teva Pharmaceutical Industries LtdISRAELHealth Care11/2/2017

    UKRAINE -3.78%

  • macro strategy bonds quick news
  • Belarusian, Ukrainian Presidents Discuss Ties In Abu Dhabi
  • Ukraine May Have Dirt On Paul Manafort And Can Hand It Over To ...
  • Ukraine able to ensure economic growth at the level of 5-7% in 2019 ...
  • Ukraine can be safest, most effective startup investment – Groysman
  • Major problem and big secret: How many people are still in Ukraine?
  • Ukraine's exports up 21.1 pct in Jan-Aug 2017
  • The Spider and the Fly: Kiev-US Coal Deal to 'Bleed Ukraine's ...
  • No legal arguments favoring reversal of London court decision on ...

    COLOMBIA -3.25%

  • macro strategy bonds quick news
  • Colombia's Farc leader Timochenko to run for president
  • Trudeau announces 'police initiative' in Colombia for training, advice
  • Colombia: A Failed Peace And The Impending End Of The ...
  • Colombia: A Failed Peace And The Impending End Of The ...
  • Peace in Colombia's Countryside? First, Turn On the Lights.
  • Colombia: A Failed Peace And The Impending End Of The ...
  • Colombia government proposes $78.4 billion budget for 2018
  • Colombia government to swap $674 million of TES bonds

    Econ events
    momenteventForecastConsensus
    2017-11-03PPI YoY OCT1.7%
    2017-11-04Inflation Rate MoM OCT0.4%
    2017-11-04Inflation Rate YoY OCT3.3%

    BRAZIL -2.66%

  • macro strategy bonds quick news
  • Brazil's Congress Throws Out Corruption Case Against President ...
  • Brazil official in Israel is most senior to visit in more than a decade
  • Six circular economy case studies from Brazil
  • Six circular economy case studies from Brazil
  • The 'genocide' of Brazil's black youth gives Day of the Dead extra ...
  • Brazil's car output up 39% in September on growth in exports
  • Brazil's Budget Deficit Hits a Record in July
  • SA bond investors prepare for junk status

    Econ events
    momenteventForecastConsensus
    2017-11-06Markit Composite PMI OCT50.8
    2017-11-06Markit Services PMI OCT50.2
    2017-11-08New Car Registrations MoM OCT
    2017-11-08Car Production MoM OCT
    2017-11-10Inflation Rate MoM OCT0.25
    2017-11-10Inflation Rate YoY OCT2.5%

    ARGENTINA -2.47%

  • macro strategy bonds quick news
  • Former president Kirchner's appeal denied in Argentina
  • NYC terror attack: At least some victims were from Belgium, Argentina
  • IMF Experts Arrive in Argentina to Analyze Economic Growth
  • Macri's Argentina wants to muscle in on impact investing
  • After years of economic woes, Argentina emerging as a market of ...
  • Argentinian blueberry exports to the US grow 35%
  • UPDATE 1-Argentina beats 2016 fiscal goal with deficit of 4.6 pct of ...
  • Argentina's debt to saviour Messi

    Econ events
    momenteventForecastConsensus
    2017-11-07Interest Rate Decision27.75%

    PAKISTAN -1.26%

  • macro strategy bonds quick news
  • Pakistan strictly follows principle of peaceful coexistence: President
  • Ousted Pakistani prime minister Nawaz Sharif returns to face trial
  • Economic profile of Pakistan
  • Standard & Poor's maintains Pakistan's investment rating at 'highly ...
  • The secret behind the remarkable success of snow leopard ...
  • IMF urges Pakistan to target open accords to boost exports
  • CPEC toll income — myth and reality
  • Is Pakistan's debt management strategy delivering?

    Econ events
    momenteventForecastConsensus
    2017-11-10Balance of Trade OCTPKR-324.1B

    MEXICO -1.09%

  • macro strategy bonds quick news
  • This Is The Latest Link Between Mexico's President And Latin ...
  • Prime Minister concludes visit to Mexico
  • Mexico's 3Q economic growth hit by earthquakes, hurricanes
  • Mexican experts expect strengthened LatAm-China ties
  • Exploring the Secret Caves Beneath Mexico's Biggest Tourist ...
  • APEC a chance to strengthen VN-Mexico ties
  • NM's budget: From flush to cash crunch in 9 years
  • US Nafta Proposals Positive For Mexico Debt, Moody's Says

    Econ events
    momenteventForecastConsensus
    2017-11-06Consumer Confidence OCT72
    2017-11-07Gross Fixed Investment MoM AUG0.94%
    2017-11-07Gross Fixed Investment YoY AUG0.94%
    2017-11-08Auto Production YoY OCT
    2017-11-08Auto Exports YoY OCT
    2017-11-09Interest Rate Decision7.0%
    2017-11-09Inflation Rate MoM OCT0.37%
    2017-11-09Inflation Rate YoY OCT6.1%
    2017-11-09Core Inflation Rate MoM OCT
    2017-11-10Industrial Production MoM SEP0.12%
    2017-11-10Industrial Production YoY SEP-0.2%

    TUNISIA -0.89%

  • macro bonds quick news
  • Tunisia's president must boost economy without repeating mistakes ...
  • Foreign Minister of Tunisia, Mr. Khemaies Jhinaoui meets Prime ...
  • Interview: Amnesty to Ben Ali-Era Officials Is to Remove 'Policy ...
  • Tunisia to host Int'l investment forum to boost development
  • Africa's coming demographic dividend, and why you should care ...
  • Tunisian firms to set up food processing units in Qatar
  • Tunisia to Raise Taxes, Curb Wage Growth in 2018 to Fix Finances
  • Debt ratio exceeds alarming level in Tunisia

    GHANA -0.66%

  • macro bonds quick news
  • Ghana ready for investments in healthcare - Bawumia
  • Kwame Nkrumah: Ghana's first president and a revered panafrican
  • IMF projects almost 9% economic growth for Ghana
  • Ghana: 'Most Business-Friendly' Investment Destination Is Our Goal ...
  • African leaders urged to embrace industrialisation at Dubai business ...
  • Ghana's exports rise to $ 8.9 billion
  • Adopt Measures To Raise Adequate Revenue
  • Ghana's Debt –to-GDP ratio to reach 66.1% in 2018 – IMF

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