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December 1, 2017

Best 15 Markets Yesterday

CountryChangePct
TURKEY3.30
TRINIDAD AND TOBAGO3.06
SLOVENIA2.63
ESTONIA2.08
CROATIA1.84
TUNISIA1.76
GHANA1.54
DENMARK1.43
SERBIA1.14
GREECE1.03
PAKISTAN0.98
CZECH REPUBLIC0.82
USA0.79
AUSTRIA0.66
LITHUANIA0.66

Worst 15 Markets Yesterday

CountryChangePct
ZIMBABWE-5.72
INDONESIA-2.85
KOREA-2.83
BRAZIL-2.81
JAMAICA-2.35
TAIWAN-2.08
CHINA-1.85
MEXICO-1.75
INDIA-1.43
MAURITIUS-1.15
HONG KONG-1.14
RUSSIA-1.14
PERU-1.10
SOUTH AFRICA-1.10
THAILAND-0.94

Best 10 Markets YTD

CountryChangePct
ZIMBABWE223.80
ARGENTINA62.12
JAMAICA61.84
KAZAKHSTAN54.13
AUSTRIA53.37
GHANA51.30
VIETNAM49.97
CHINA48.28
POLAND47.04
KOREA42.77

Worst 10 Markets YTD

CountryChangePct
PAKISTAN-27.91
QATAR-25.40
OMAN-14.42
LEBANON-10.81
BOTSWANA-10.60
ISRAEL-7.43
RUSSIA-1.80
NEW ZEALAND-1.39
UNITED ARAB EMIRATES-1.11
JORDAN0.07

Best 10 Markets Last 12 months

CountryChangePct
JAMAICA70.70
AUSTRIA59.80
POLAND58.76
ARGENTINA57.77
KAZAKHSTAN55.54
GHANA53.28
ITALY43.64
VIETNAM43.45
CHINA42.21
KOREA41.76

Worst 10 Markets Last 12 months

CountryChangePct
QATAR-20.28
PAKISTAN-18.25
LEBANON-12.05
BOTSWANA-9.82
OMAN-8.64
ISRAEL-7.94
NEW ZEALAND-4.11
UKRAINE-0.90
SRI LANKA-0.26
ZIMBABWE0.00

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

countryYieldYieldChange
Venezuela42.7319.03
Canada8.921.48
Israel4.850.64
Lebanon7.350.45
United States5.73-0.01
Qatar3.62-0.01
Pakistan5.74-0.02
Oman4.86-0.07
Bahrain5.72-0.07
France6.18-0.10
Korea (South)3.86-0.16
China4.01-0.24
Philippines3.23-0.38
South Africa5.07-0.40
Jordan5.81-0.44
Netherlands4.21-0.46
Thailand2.99-0.47
United Arab Emirates3.83-0.52
Germany3.82-0.52
Morocco3.85-0.58
Trinidad and Tobago4.83-0.59
Chile4.51-0.62
Turkey5.37-0.68
Peru3.52-0.70
Guatemala4.20-0.70
Lithuania2.31-0.71
Russian Federation3.81-0.72
United Kingdom4.66-0.72
Azerbaijan4.93-0.73
Poland2.65-0.76
Romania3.42-0.77
Hungary3.05-0.81
Malaysia3.39-0.82
Colombia4.34-0.84
Panama3.50-0.89
Indonesia3.78-0.91
Cote D'Ivoire (Ivory Coast)5.68-0.98
Mexico4.31-0.98
Croatia (Hrvatska)3.21-1.02
India3.93-1.09
Brazil5.31-1.15
Costa Rica5.83-1.15
Uruguay3.67-1.19
Vietnam3.51-1.30
El Salvador6.60-1.31
Serbia3.03-1.33
Kazakhstan4.22-1.51
Dominican Republic4.74-1.56
Sri Lanka4.65-1.66
Jamaica7.03-1.72
Egypt4.72-1.77
Ecuador6.84-1.78
Ghana6.40-1.94
Argentina5.59-2.02
Ukraine6.60-2.10
Luxembourg8.79-2.15

Chart: GEM Stocks lose 3% in a week on profit taking

There is still a huge underperformance of GEM stocks vs. US Stock on 5 year view… but tactically GEM index is up for some profit taking pressure

Source: ML

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    Comment

    Weekly performance is between 2017-11-30 and 2017-11-24

    Best global markets week to date USA +1.65%, FM (FRONTIER MARKETS) +0.29%, EUROPE-0.11%,

    While worst global markets week to date EM LATIN AMERICA -3.50%, EFM ASIA -3.33%, EM (EMERGING MARKETS) -2.90%,
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  • Asia equities broadly higher as China stocks steady
  • Tech sell-off reaches Europe after China stocks wilt
  • European Equities Up as Prospect of Political Breakthrough in ...
  • European equities flat as China suffers biggest slump in 2 years
  • Opec extends production curbs to end of 2018 to bolster oil price
  • How Big Oil Is Transforming Shale
  • Iron ore is climbing as Chinese steel prices continue to soar
  • Could Stable Scrap Prices Lift US Steel Prices?
  • PRECIOUS-Gold price slips as US growth data supports dollar, US ...
  • Gold Rate Today: Gold, silver up in morning trade; Should you buy?

    Best since the start of the week among various stock markets were ZIMBABWE +38.51%, GREECE +4.36%, BAHRAIN +3.94%, TRINIDAD AND TOBAGO +3.51%, EGYPT +2.40%, JORDAN +2.06%, SOUTH AFRICA +2.06%, ISRAEL +2.05%, SAUDI ARABIA DOMESTIC +1.69%, USA +1.65%,

    While worst since the start of the week among various stock markets were JAMAICA -4.43%, BRAZIL -4.25%, CHINA -4.20%, TAIWAN -3.89%, KOREA -3.72%, HUNGARY -3.62%, GHANA -3.60%, INDONESIA -3.49%, RUSSIA -2.98%, CHILE -2.98%,

    News

    Chose Your Country

    Best 10 Market Since the begining of the week


    ZIMBABWE 38.51%

  • macro bonds quick news
  • Zimbabwe's president names top military officers in new cabinet
  • AP Was There: Mugabe sworn in as Zimbabwe's prime minister
  • Zimbabwe will need international effort to restore economy: IMF
  • OPINION: Zim economy may be down, but the time to invest is now
  • Zimbabwe: 10 numbers that will help you understand what's actually ...
  • Trade deficit narrows to $1,45bn on exports growth
  • Govt to raise $293m from retention funds
  • Should Zimbabwe Accept A Loan From Britain To Pay Back Its ...

    GREECE 4.36%

  • macro strategy bonds quick news
  • US Ambassador to Greece: President Trump Gave 'Clear Message ...
  • Erdogan Will Make Groundbreaking Visit to Greece Next Week
  • Trump sent 'clear message' US will support Greece's economic ...
  • Superannuation funds look to invest in Greek assets
  • Europe's Growing Muslim Population
  • Greek-made quality caviar exported by Epirus' VIKI Group
  • Exclusive: Greece to overshoot budget surplus targets in 2017, 2018 ...
  • Greece debt exchange opens door for threes and sevens in 2018

    BAHRAIN 3.94%

  • macro strategy bonds quick news
  • HRH Crown Prince meets President of the United States, Donald J ...
  • Trump to meet Bahrain crown prince, Libyan prime minister
  • Bahrain: Oil Drives Economic Growth
  • Cloud technology investment boost for Bahrain
  • Bahrain's population crossed 1m in December
  • Kuwait real estate market sees uptick in H1 2017
  • Bahrain faces financial crisis
  • Bahrain's debt levels and associated costs need a check

    TRINIDAD AND TOBAGO 3.51%

  • macro bonds quick news
  • President: Be mentors to your children
  • Tobago response to delay in getting new ferry
  • THA gets approval to continue development programmes
  • Courting investment
  • IMF Executive Board Concludes Article IV Consultation with Trinidad ...
  • Courting investment
  • Wide-ranging tax reforms to boost Trinidad and Tobago's revenue ...
  • Trinidad and Tobago News Blog

    EGYPT 2.40%

  • macro strategy bonds quick news
  • Egypt's President Demands Military Rid Sinai of Militants
  • Egypt's Ex-prime Minister Ahmed Shafiq Intends to Run Against ...
  • Egypt's economic growth will be better in 2018: WB Vice President
  • Egyptian investment opportunities, challenges
  • Muslim population in Europe projected to rise
  • Currency flotation increased exports by $2bn: Tarek Kabil
  • IMF believes Egypt's reform results to be felt in 2018
  • Egypt's debt up to LE 3.7 trillion: finance minister

    Econ events
    momenteventForecastConsensus
    2017-11-30M2 Money Supply YoY OCT

    JORDAN 2.06%

  • macro bonds quick news
  • Theresa May tackles Donald Trump over tweets on trip to Jordan
  • Theresa May tackles Donald Trump over tweets on trip to Jordan
  • Kingdom 7th most prosperous country in region, but losing ground ...
  • Kingdom 7th most prosperous country in region, but losing ground ...
  • Kingdom 7th most prosperous country in region, but losing ground ...
  • 2nd Gulf-Jordanian economic forum begins in Amman
  • 2018 National Budget “disastrous”; tax amnesty smacks of a deal ...
  • Jordan: Debt ceiling deal didn't address $20 trillion debt

    SOUTH AFRICA 2.06%

  • macro strategy bonds quick news
  • Why all 3 South African presidents supported Mugabe
  • How the PMO got Israel into the multi-billion-dollar Power Africa ...
  • Economic progress in SA is going BACKWARDS: Here are the ...
  • Zuma's Junk-Avoiding Budget Plans May Hurt South African Growth
  • WATCH: Life in South Africa after 'The President's Keepers ...
  • South Africa overtakes US in exports to Kenya
  • Zuma's Junk-Avoiding Budget Plans May Hurt South African Growth
  • S&P Cuts South Africa Debt Rating, Moody's Issues Warning

    Econ events
    momenteventForecastConsensus
    2017-11-30Balance of Trade OCT
    2017-11-30PPI YoY OCT5.4%
    2017-11-30PPI MoM OCT

    ISRAEL 2.05%

  • macro strategy bonds quick news
  • Remarks by the Vice President Commemorating UN Vote ...
  • Reason why Israeli Prime Minister Benjamin Netanyahu did not ...
  • Israel's GDP Growth to Exceed 3% in 2019, OECD Says
  • Mazor Robotics: Growth Story Continues
  • American Jewish visitor forced to sign loyalty oath in order to get ...
  • Israel's Hightech – a Major Engine of Growth
  • Israel's tax collection sets new record in October
  • Israel debt slips for seventh straight year to 62.2 percent of GDP

    Ex Div Stocks yesterday:
    CompanyCountrySectorReported
    Bank Hapoalim BMISRAELFinancials11/30/2017

    SAUDI ARABIA DOMESTIC 1.69%

  • macro bonds quick news
  • Rise of an assertive Saudi Arabia
  • Behind the Resignation
  • Rise of an assertive Saudi Arabia
  • Saudi Arabia's anti-corruption purge is all about life after oil
  • White House May Share Nuclear Power Technology with Saudi Arabia
  • White House May Share Nuclear Power Technology With Saudi ...
  • Extension of oil production cuts threatens Nigeria's budget
  • Behind the Resignation

    USA 1.65%

  • macro bonds quick news
  • I'm USA Today Network President Maribel Wadsworth, and This Is ...
  • Statement from the Press Secretary on the Visit of Prime Minister ...
  • US third-quarter economic growth fastest in three years
  • Emira reveals new USA investment strategy
  • Europe's Growing Muslim Population
  • OPEC opens door to US-Asia trade for battered crude shippers
  • Congress finalizes $700 billion defense spending plan
  • US Debt Authority Won't Lapse Until March or April, CBO Says

    Worst 10 Market Since Begining of the Week


    JAMAICA -4.43%

  • macro bonds quick news
  • Tourism a Highly Profitabile Industry – President Medina
  • Prime Minister Says Travellers Expect More for Their Money
  • Growth & Jobs | JAMPRO says investment in Minerals sector critical ...
  • Growth & Jobs | JAMPRO says investment in Minerals sector critical ...
  • Local Population Must Benefit from Sustainable Tourism – Bartlett
  • The BoJ's intervention in forex market and the debt trap
  • Property tax: what's the problem?
  • Martin Henry | The incapacity of the State

    BRAZIL -4.25%

  • macro strategy bonds quick news
  • Brazil president has angioplasty, 2 stents implanted
  • Belarusian Deputy Prime Minister to Visit Brazil Next Week
  • Morgan Stanley predicts 2018 will be 'tricky' for global economies ...
  • Nuclear Power in Brazil, Market Outlook to 2030, Update 2017 ...
  • Expansion of sugarcane cultivation for biofuel in areas not under ...
  • Chinese and Brazilian business owners sign agreement to increase ...
  • Brazil's Budget Deficit Hits a Record in July
  • Angola makes last-gasp Brazil debt payment to avoid default

    Econ events
    momenteventForecastConsensus
    2017-11-30Unemployment Rate OCT12.3%

    CHINA -4.20%

  • macro strategy bonds quick news
  • Weeks after hosting Trump, China's president reconnects with Obama
  • Prime Minister Trudeau Shouldn't Ignore China's Jailed Activists
  • Beijing can boost economic growth if it beats the corporate 'zombies ...
  • China investment growth slows, industrial output misses expectations
  • What you need to know about Beijing's crackdown on its “low-end ...
  • China's factory growth unexpectedly picks up despite pollution ...
  • Budget hotels set foot in lucrative shared office sector
  • China's debt crackdown hits cash loan firms

    Econ events
    momenteventForecastConsensus
    2017-11-30Non Manufacturing PMI NOV54.3
    2017-11-30NBS Manufacturing PMI NOV52

    TAIWAN -3.89%

  • macro strategy bonds quick news
  • Taiwan president visits US territory of Guam despite Chinese ire
  • Saint Lucia's prime minister to visit Taiwan
  • Taiwan Q3 economic growth highest in over two years
  • Taiwan's Fubon Life posts nine-month investment income of NT ...
  • Premier to push new immigration policy
  • Taiwan bumps up 2017 growth forecast
  • Taiwan seeks advanced arms, announces military budget to counter ...
  • US issuers rush to sell Formosa bonds before rule change

    KOREA -3.72%

  • macro strategy bonds quick news
  • North Korea's missile is advanced, but still some things to prove ...
  • Crypto Corrupts the Youth? South Korea Prime Minister Says So
  • Korea marks 2nd-highest Q3 economic growth in OECD
  • South Korea Q3 GDP revised upward from 7-year high
  • South Korea's penniless pensioners face final years in crisis
  • (2nd LD) S. Korea's exports up 9.6 pct in Nov. on memory chips
  • South Korea's Budget Gets Nearly $10 Billion Boost
  • Goldman's Bullish on Korea Debt But Investors Unsure on Time

    Econ events
    momenteventForecastConsensus
    2017-11-30Interest Rate Decision1.5%
    2017-11-30Retail Sales YoY OCT2.86%
    2017-11-30Retail Sales MoM OCT0.31%
    2017-11-30Manufacturing Production YoY OCT-0.59%
    2017-11-30Industrial Production MoM OCT0.35%
    2017-11-30Industrial Production YoY OCT7.3%
    2017-11-30Construction Output YoY OCT8.7%

    HUNGARY -3.62%

  • macro strategy bonds quick news
  • King holds talks with Hungarian president
  • Serbia Begins Work On Railway Link To Hungary, Part Of China's ...
  • OECD raises Hungary GDP growth forecasts
  • OECD raises Hungary GDP growth forecasts
  • Europe's Growing Muslim Population
  • OECD raises Hungary GDP growth forecasts
  • Hungary's budget deficit widens in Oct due to spending on EU ...
  • Decline in Hungary's debt achievable this year with current forint ...

    GHANA -3.60%

  • macro bonds quick news
  • 'Ghana ready to renew and deepen relations with France ...
  • Dutch Prime Minister on official visit to Ghana
  • Ghana/France commit to boosting security and socio-economic ...
  • GIPC to transform into economic development agency
  • Zenith Bank is leading digital banking in Ghana
  • Ghana records $7.4m in exports to Morocco
  • Ghana Budget 2018: Economic Expert Urges Gov't To Address Cedi ...
  • Ghana's debt stock hits ¢138.9 billion - BoG

    INDONESIA -3.49%

  • macro strategy bonds quick news
  • Danish Prime Minister Gives Indonesia's President The Most Metal ...
  • Danish Prime Minister Gives Indonesia's President The Most Metal ...
  • Bank Indonesia to Revise 2017 Economic Growth Target Soon
  • Hostility to Chinese investment is work of a minority, says ...
  • Indonesia eyes increase in tourist arrivals from Qatar
  • Indonesia exports, imports beat expectations in October
  • Indonesia Needs Higher Revenue to Win a Moody's Upgrade
  • Indonesia Needs Higher Revenue to Win a Moody's Upgrade

    Econ events
    momenteventForecastConsensus
    2017-11-30M2 Money Supply YoY OCT
    2017-11-30Nikkei Manufacturing PMI NOV51.2

    Ex Div Stocks yesterday:
    CompanyCountrySectorReported
    Bank Central Asia Tbk PTINDONESIAFinancials11/30/2017

    RUSSIA -2.98%

  • macro strategy bonds quick news
  • Trump Pressed Top Republicans to End Senate Russia Inquiry
  • Russian Prime Minister: I do not consider my candidacy for president ...
  • Russian Economic Growth Slides, Structural Issues Loom Large
  • Moscow Exchange bets on growth in Russia-China investments
  • Up to 60% of Russia's population should be involved in small ...
  • Russia's exports in three quarters of 2017 up to $255 bln — PM ...
  • Russia's budget revenue up by 19.1 pct in Jan-Oct
  • US Tightens Russia-Debt Sanctions

    Econ events
    momenteventForecastConsensus
    2017-11-30M2 Money Supply YoY OCT

    Companies Reported Yesterday Include:
    CompanyCountrySectorReported
    Aeroflot PJSCRUSSIAIndustrials11/30/2017
    Federal Grid Co Unified Energy System PJSCRUSSIAUtilities11/30/2017
    Federal Grid Co Unified Energy System PJSCRUSSIAUtilities11/30/2017
    Transneft PJSCRUSSIAEnergy11/30/2017

    Companies that will report Today:
    CompanyCountrySectorReported
    IDGC of Centre and Volga Region PJSCRUSSIAUtilities12/1/2017

    CHILE -2.98%

  • macro strategy bonds quick news
  • A Shake-Up in Chile's Presidential Election
  • 11 trade ministers reach deal on Pacific trade without US
  • Elections in Chile: The return of the right
  • Copper Won't Lead Chile's Investment Recovery
  • Developing nations are driving record growth in solar power
  • Elections in Chile: The return of the right
  • Chile 2018 budget proposal allows for $8.5 bln in debt -document
  • Pinera Wins First Round of Chile Election, Faces Runoff

    Econ events
    momenteventForecastConsensus
    2017-11-30Unemployment Rate OCT6.5%

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