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Tactical Stance


Costs cuts, lower capex, higher debt ebitda and deleveraging

Strategic Stance


Lower WACC on higher debt to equity ratio


Markets last Month From Best to Worst
Click On the Country Link to Go to Country Monthly Page

*Not All the Countries Have Associated Country Pages
Monthly performance is between 2020-05-01 and 2020-03-31
nameMonthChange
LEBANON23.28
PAKISTAN17.27
INDIA16.13
AUSTRIA15.71
VIETNAM15.66
CHILE15.52
THAILAND14.99
UKRAINE14.39
LITHUANIA14.15
TAIWAN14.10
UNITED ARAB EMIRATES12.10
NIGERIA12.05
INDONESIA11.79
CZECH REPUBLIC11.18
SLOVENIA10.82
GERMANY9.87
USA9.83
GREECE9.57
SAUDI ARABIA DOMESTIC9.46
CANADA9.40
NORWAY9.35
POLAND9.08
IRELAND9.06
PHILIPPINES8.96
RUSSIA8.90
SOUTH AFRICA8.83
FINLAND8.80
NETHERLANDS8.32
KOREA8.19
ESTONIA8.10
DENMARK7.84
EGYPT7.83
NEW ZEALAND7.78
SINGAPORE7.78
ISRAEL7.60
SWEDEN7.37
KENYA7.12
ZIMBABWE7.04
HONG KONG7.01
BELGIUM7.00
QATAR DOMESTIC6.63
ARGENTINA6.47
HUNGARY6.29
KAZAKHSTAN5.89
MALAYSIA5.01
FRANCE4.86
CHINA4.81
KUWAIT4.70
COLOMBIA4.54
QATAR4.48
SWITZERLAND4.41
OMAN4.12
FM AFRICA4.10
BRAZIL3.92
ROMANIA3.74
TURKEY3.58
CROATIA3.08
JAPAN2.95
ITALY2.29
UNITED KINGDOM2.28
PORTUGAL1.90
BULGARIA1.86
SPAIN1.51
PERU1.45
MOROCCO1.02
MEXICO0.46
JORDAN0.00
BANGLADESH-0.06
SRI LANKA-0.66
BOSNIA AND HERZEGOVINA-2.12
SERBIA-3.37
TUNISIA-3.79
BAHRAIN-3.96
BOTSWANA-4.74
MAURITIUS-7.85
JAMAICA-10.31
TRINIDAD AND TOBAGO-14.39

Markets YTD From Best to Worst
Click On the Country Link to Go to Country Monthly Page

nameYTD Change
ZIMBABWE28.13
LEBANON23.37
BOTSWANA1.14
DENMARK-1.63
CHINA-5.92
TAIWAN-7.94
SWITZERLAND-8.42
JORDAN-9.94
TUNISIA-9.96
NEW ZEALAND-10.48
BOSNIA AND HERZEGOVINA-10.59
PORTUGAL-11.46
ISRAEL-11.94
LITHUANIA-11.97
HONG KONG-12.07
USA-12.18
FINLAND-12.30
NETHERLANDS-14.14
SLOVENIA-14.34
QATAR DOMESTIC-14.67
JAPAN-15.23
OMAN-15.43
SWEDEN-15.61
CROATIA-16.00
KOREA-16.28
MALAYSIA-16.45
QATAR-16.61
SAUDI ARABIA DOMESTIC-16.73
BANGLADESH-18.09
KAZAKHSTAN-19.15
IRELAND-19.59
KENYA-19.65
GERMANY-19.99
VIETNAM-20.28
INDIA-20.41
CANADA-21.25
EGYPT-21.41
UNITED ARAB EMIRATES-21.60
SINGAPORE-22.73
BULGARIA-23.91
CHILE-23.92
FRANCE-24.25
THAILAND-24.50
KUWAIT-24.97
MOROCCO-25.22
ESTONIA-25.53
FM AFRICA-25.69
UKRAINE-25.95
PHILIPPINES-26.62
NORWAY-27.41
TURKEY-27.73
BELGIUM-27.88
ITALY-27.93
UNITED KINGDOM-28.13
ROMANIA-28.18
NIGERIA-28.56
TRINIDAD AND TOBAGO-28.75
SPAIN-28.84
BAHRAIN-29.51
SERBIA-29.98
PAKISTAN-30.07
POLAND-30.70
RUSSIA-30.83
CZECH REPUBLIC-31.64
INDONESIA-33.14
JAMAICA-33.74
AUSTRIA-33.91
PERU-34.96
HUNGARY-35.18
SOUTH AFRICA-35.28
MEXICO-35.35
ARGENTINA-35.40
SRI LANKA-36.00
GREECE-39.96
MAURITIUS-42.78
COLOMBIA-47.99
BRAZIL-48.67

Best 15 Market Last 12 Months

CountryChangePct
DENMARK10.70
TAIWAN6.86
NEW ZEALAND4.78
SWITZERLAND4.42
SLOVENIA3.59
ZIMBABWE-89.68
BOTSWANA-53.97
COLOMBIA-45.27
ARGENTINA-44.63
TRINIDAD AND TOBAGO-42.19
BRAZIL-41.34
NIGERIA-39.56
CHILE-39.03
PERU-38.57
SOUTH AFRICA-37.50

Worst 15 Market Last 12 Months

CountryChangePct
TUNISIA-2.59
USA-3.02
LITHUANIA-3.80
CHINA-5.56
PORTUGAL-6.03
NETHERLANDS-7.12
CROATIA-7.36
JAPAN-7.51
IRELAND-7.52
KENYA-8.71
SWEDEN-10.41
JORDAN-10.72
JAMAICA-11.01
FINLAND-11.24
OMAN-11.61

Country USD Yields and YTD Changes

countryYieldYieldChange
Ecuador36.1425.56
Sri Lanka26.3919.42
Angola19.1712.15
Zambia21.0210.13
Chile14.7410.12
Argentina24.798.49
Canada11.487.12
India10.865.76
Ghana13.575.37
Ireland9.195.37
Iraq11.385.13
United States8.984.18
El Salvador10.534.07
Costa Rica9.503.68
Pakistan9.223.59
United Kingdom7.583.41
Ukraine9.082.89
Oman7.912.87
Nigeria9.452.84
Kazakhstan12.592.70
Brazil7.382.70
Kenya8.952.58
France6.062.48
Netherlands5.492.40
Jamaica23.202.35
Trinidad and Tobago5.702.34
South Africa6.932.22
Luxembourg5.822.21
Colombia5.552.11
Bahrain6.332.08
Dominican Republic6.801.91
United Arab Emirates5.681.88
Mexico6.251.83
Guatemala5.711.80
Peru5.571.77
Turkey7.791.76
Kuwait5.431.74
Indonesia5.751.48
Macau5.611.46
Australia4.841.41
Jordan6.891.37
Senegal7.601.36
Egypt7.391.24
Cote D'Ivoire (Ivory Coast)6.951.20
Panama5.051.12
Paraguay5.510.90
Morocco4.060.89
Azerbaijan4.720.85
Vietnam3.980.80
China5.710.62
Thailand3.690.58
Romania3.820.51
Philippines3.590.49
Singapore3.500.39
Malaysia3.740.33
Croatia (Hrvatska)2.490.24
Hong Kong4.110.18
Russian Federation3.550.14
Saudi Arabia3.460.12
Uruguay3.270.04
Hungary2.530.01
Venezuela0.000.00
Israel5.55-0.06
Qatar2.78-0.07
Korea (South)2.85-0.09
Poland1.73-0.53
Lebanon0.00-25.73

Fund flows YTD

FocusObjectiveAsset ClassFlow USD mn
SizeLARGE-CAPEquity29601.64
CommoditiesPRECIOUS METALSCommodity24661.02
industryHEALTH CARE SECTOREquity9218.75
SizeSMALL-CAPEquity7166.51
CommoditiesPRECIOUS METAL SECTOREquity5134.34
industryUTILITIES SECTOREquity4888.10
countryUNITED KINGDOMEquity2296.18
industryCOMMUNICATIONS SECTOREquity1404.81
regionASIAN PACIFIC REGION EX JAPANMixed Allocation1214.71
regionEUROPEAN REGIONMixed Allocation791.24
RiskGOVERNMENT BONDFixed Income405.02
CountryTAIWANEquity348.08
regionNORTH AMERICAN REGIONFixed Income318.12
countryKOREAEquity232.69
countryCHINAFixed Income194.91
countryJAPANFixed Income114.89
regionLATIN AMERICAN REGIONFixed Income79.77
segmentMENAFixed Income57.61
countryPOLANDEquity33.80
RiskLONG SHORTMixed Allocation10.44
SizeMID-CAPCommodity6.72
SectorAGRICULTUREEquity0.00
industryENERGY SECTORMixed Allocation-0.16
countryISRAELEquity-0.22
countryAUSTRALIAMixed Allocation-0.38
regionEASTERN EUROPEAN REGIONMixed Allocation-1.48
industryMULTIPLE SECTOREquity-3.10
CountryEGYPTEquity-4.10
regionMIDDLE EAST REGIONEquity-5.95
regionMIDDLE EAST REGIONFixed Income-6.37
segmentGCCFixed Income-8.77
segmentGCCEquity-16.93
countryJAPANMixed Allocation-19.47
segmentEMEAEquity-22.15
countrySOUTH AFRICAEquity-28.55
segmentEMEAFixed Income-29.13
segmentMENAEquity-29.97
RiskGOVERNMENT BONDMixed Allocation-34.93
countryRUSSIAFixed Income-45.68
RiskLONG SHORTFixed Income-89.76
regionAFRICAN REGIONEquity-97.37
segmentGCCMixed Allocation-105.51
SectorAGRICULTURECommodity-110.19
countryINDIAFixed Income-127.44
SectorCONSUMER STAPLESEquity-128.35
countryTURKEYEquity-152.47
countryAUSTRALIAFixed Income-153.37
countryRUSSIAEquity-182.82
industryNATURAL RESOURCES SECTOREquity-237.21
CommoditiesINDUSTRIAL METALSCommodity-276.32
regionEASTERN EUROPEAN REGIONFixed Income-276.36
RiskGOVERNMENT BONDAlternative-292.40
countrySPAINEquity-298.31
industryBASIC MATERIALS SECTOREquity-561.54
regionEASTERN EUROPEAN REGIONEquity-563.45
countryAUSTRALIAEquity-633.18
segmentBRICFixed Income-811.22
regionNORDIC REGIONEquity-851.26
RiskLONG SHORTAlternative-874.64
RiskINFLATION PROTECTEDFixed Income-887.91
segmentBRICEquity-893.32
regionLATIN AMERICAN REGIONEquity-1026.16
industryFINANCIAL SECTOREquity-1438.88
industryINDUSTRIAL SECTOREquity-1460.83
regionASIAN PACIFIC REGION EX JAPANFixed Income-1583.99
countryBRAZILFixed Income-1643.45
regionNORTH AMERICAN REGIONEquity-1874.05
SizeMID-CAPEquity-2184.02
RiskLONG SHORTEquity-2303.04
regionASIAN PACIFIC REGIONFixed Income-2490.42
regionEUROPEAN REGIONFixed Income-3542.68
industryTECHNOLOGY SECTOREquity-3655.18
regionASIAN PACIFIC REGIONMixed Allocation-3727.84
regionASIAN PACIFIC REGION EX JAPANEquity-4075.90
countryINDIAEquity-4431.76
industryREAL ESTATE SECTOREquity-4572.63
CommoditiesPRECIOUS METALSMixed Allocation-4754.04
countryBRAZILEquity-5453.85
SectorCONSUMER DISCRETIONARYEquity-6524.56
countryCHINAEquity-6612.61
countryJAPANEquity-9170.24
segmentDEVELOPED MARKETSEquity-10588.15
segmentEMERGING MARKETSEquity-11868.67
regionEUROPEAN REGIONEquity-12213.61
regionASIAN PACIFIC REGIONEquity-24242.59
industryENERGY SECTOREquity-24614.46

Commodities Monthly Performance

NameUnitsLastPriceCurrencyMonthChange USDpct
RBOB Gasoline (Nymex)USd/gal.1.05USD94.99
WTI Crude Oil (Nymex)USD/bbl.33.69USD66.29
Brent Crude (ICE)USD/bbl.36.09USD43.84
Lumber (CME)USD/1000 board feet367.50USD40.16
Ethanol (CBOT)USD/gal.1.08USD27.06
Silver (Comex)USD/t oz.17.71USD25.96
Silver/British Pound SpotGBP/t oz.14.13GBP25.71
ECX Emissions (ICE)EUR/MT21.26USD24.62
Silver/Japanese Yen SpotJPY/t oz.1854.44JPY23.86
Silver (Tokyo)JPY/g59.60JPY23.40
Silver SpotUSD/t oz.17.23USD23.34
Silver/Euro SpotEUR/t oz.15.72EUR22.91
Oats (CBOT)USd/bu.3.19USD21.87
Cotton #2 (ICE)USd/lb.0.5787USD16.77
Platinum SpotUSD/t oz.840.93USD16.71
Rough Rice (CBOT)USD/cwt16.08USD15.19
Crude Oil (Tokyo)JPY/kl25980.00JPY15.11
Copper (Comex)USd/lb.2.46USD13.76
Gold/British Pound SpotGBP/t oz.1428.68GBP12.07
Gold (Tokyo)JPY/g6026.00JPY11.49
Rubber (Tokyo)JPY/kg156.00JPY11.27
Gold/Japanese Yen SpotJPY/t oz.187556.00JPY10.42
Live Cattle (CME)USd/lb.0.9763USD10.40
3Mo Copper (LME)USD/MT5442.50USD9.93
Gold SpotUSD/t oz.1742.70USD9.92
NickelUSD/MT12335USD9.79
Gold/Euro SpotEUR/t oz.1590.33EUR9.61
Gold (Comex)USD/t oz.1742.50USD9.46
Sugar #11 (ICE)USd/lb.0.1119USD9.38
Natural Gas (Nymex)USD/MMBtu1.76USD9.32
Gold/Indian Rupee SpotINR/t oz.131991.38INR9.00
Feeder Cattle (CME)USd/lb.1.29USD8.95
Gasoil (Nymex)USD/MT300.50USD8.88
Cocoa (ICE)USD/MT2401.00USD7.28
Kerosene (Tokyo)JPY/kl35480.00JPY6.93
3Mo Zinc (LME)USD/MT2036.50USD6.87
3Mo Tin (LME)USD/MT15459.00USD5.87
Orange Juice (ICE)USd/lb.1.2495USD4.47
Soybean Oil (CBOT)USd/lb.0.2729USD3.92
Heating Oil (Nymex)USd/gal.0.9974USD3.82
Canola (ICE)CAD/MT472.80CAD1.46
3Mo Aluminum (LME)USD/MT1512.50USD-0.88
Lean Hogs (CME)USd/lb.0.5579999999999999USD-2.67
Soybean (CBOT)USd/bu.8.46USD-2.98
SteelUSD/MT400.5USD-3.49
Corn (CBOT)USd/bu.3.1925USD-4.84
Wheat (CBOT)USd/bu.5.17USD-7.26
Palladium SpotUSD/t oz.2069.57USD-7.64
Soybean Meal (CBOT)USD/T.285.50USD-10.16
Cocking CoalCNY/MT1114.5CNY-10.41
Coffee 'C' (ICE)USd/lb.1.0565USD-10.84

Commodities YTD Performance

NameUnitsLastPriceCurrencyYTDChange USDpct
Gold/Indian Rupee SpotINR/t oz.131991.38INR24.22
Gold/British Pound SpotGBP/t oz.1428.68GBP24.06
Rough Rice (CBOT)USD/cwt16.08USD22.75
Orange Juice (ICE)USd/lb.1.2495USD20.20
Gold/Euro SpotEUR/t oz.1590.33EUR18.15
Gold SpotUSD/t oz.1742.70USD16.88
Gold (Comex)USD/t oz.1742.50USD16.59
Gold (Tokyo)JPY/g6026.00JPY15.04
Gold/Japanese Yen SpotJPY/t oz.187556.00JPY15.03
Oats (CBOT)USd/bu.3.19USD10.38
Palladium SpotUSD/t oz.2069.57USD9.89
Silver/British Pound SpotGBP/t oz.14.13GBP3.90
Silver (Comex)USD/t oz.17.71USD0.23
Cocoa (ICE)USD/MT2401.00USD-0.37
Canola (ICE)CAD/MT472.80CAD-0.71
Silver/Euro SpotEUR/t oz.15.72EUR-1.13
Silver SpotUSD/t oz.17.23USD-2.21
Silver (Tokyo)JPY/g59.60JPY-3.72
Silver/Japanese Yen SpotJPY/t oz.1854.44JPY-3.78
Wheat (CBOT)USd/bu.5.17USD-4.35
Soybean Meal (CBOT)USD/T.285.50USD-6.12
SteelUSD/MT400.5USD-9.49
Soybean (CBOT)USd/bu.8.46USD-9.76
Cocking CoalCNY/MT1114.5CNY-9.98
Feeder Cattle (CME)USd/lb.1.29USD-10.25
Platinum SpotUSD/t oz.840.93USD-10.55
3Mo Tin (LME)USD/MT15459.00USD-10.64
3Mo Zinc (LME)USD/MT2036.50USD-11.11
3Mo Copper (LME)USD/MT5442.50USD-12.08
Lumber (CME)USD/1000 board feet367.50USD-12.94
Copper (Comex)USd/lb.2.46USD-12.97
NickelUSD/MT12335USD-14.28
Cotton #2 (ICE)USd/lb.0.5787USD-15.64
Coffee 'C' (ICE)USd/lb.1.0565USD-16.02
3Mo Aluminum (LME)USD/MT1512.50USD-16.16
Sugar #11 (ICE)USd/lb.0.1119USD-16.86
Corn (CBOT)USd/bu.3.1925USD-17.77
ECX Emissions (ICE)EUR/MT21.26USD-18.58
Natural Gas (Nymex)USD/MMBtu1.76USD-19.27
Soybean Oil (CBOT)USd/lb.0.2729USD-19.57
Rubber (Tokyo)JPY/kg156.00JPY-20.04
Lean Hogs (CME)USd/lb.0.5579999999999999USD-20.57
Ethanol (CBOT)USD/gal.1.08USD-22.30
Live Cattle (CME)USd/lb.0.9763USD-22.32
Crude Oil (Tokyo)JPY/kl25980.00JPY-38.35
RBOB Gasoline (Nymex)USd/gal.1.05USD-38.85
Kerosene (Tokyo)JPY/kl35480.00JPY-39.89
WTI Crude Oil (Nymex)USD/bbl.33.69USD-44.42
Brent Crude (ICE)USD/bbl.36.09USD-45.84
Heating Oil (Nymex)USd/gal.0.9974USD-50.81
Gasoil (Nymex)USD/MT300.50USD-51.06
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Strategy

Chart: Midlincoln Strategy

April 2020

Source:

Download All Slides in Power Point

Key Topics and News

Broad sector buy intact based
Economies going back to normal
Some sectors missed a quarter of earnings
Missed earnings imply either shrinking equity or larger debt depending on fixed costs
In either way missed earnings imply higher debt to equity ratio
Missed earning in some cases imply dilution of current shareholders
Because debt is cheaper for companies in the current environment this means a lower WACC
Lower WACC could imply higher valuation for companies which managed not to increase their net debt
This supports a broad sector buy, buybacks and larger dividends for existing key shareholder to reinvest
On the negative side demand is weaker
Revenues are likely to be lower in the second half of 2020
Incomes lower
Multiples higher across the markets
Higher Debt EBITDA ratio
Covenants under pressure
Deleveraging
Cost cuts
Lower capex
and on balance probably lower cashflows

Recent Strategy Chart Art

Midlincoln Strategy

Download file in Power Point		ML Global Strategy

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November Strategy

Download file in Power Point		Midlincoln October Strategy

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Download file in Power Point
Midlincoln Strategy - Countries First

Download file in Power Point		Strategy , Emerging Markets Catching Up

Download file in Power Point		Key Equity Performance Summary

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Average Sovereign GEM Yields (USD)

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Average Sov. Dev. Markets Yields (blended currency)

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Average UST Yield

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Average Sovereign Local Currency Yields (USD)

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Choose A Country

Airlines: Retail investors bought airline stocks even as travel slowed to a trickle, TD Ameritrade says CNBC Warren Buffett Sells Airline Stocks Amid Coronavirus: ‘I Made A Mistake’ Forbes


ARGENTINA: EMERGING MARKETS-Latam stocks at 10-week high; Brazil's real gains Reuters Hong Kong stocks fluctuate amid new threat of US sanctions Hindustan Times


AUSTRALIA: Schroders favours Aussie equities Money Management A $133 Billion Fund Says Australia Consumer Stocks Bottomed Yahoo Finance Australia (blog)


AUSTRIA: Q&A: securities finance in Austria Lexology Market Outlook: Equity indices clear big hurdles even as Hong Kong ... Investors Chronicle


BAHRAIN: Use of Electronic Signatures and Electronic Records in the Kingdom ... Lexology MIDEAST - Factors to watch - May 7 Reuters


BELGIUM: European Governments Ban Hydroxychloroquine for COVID-19 As ... Equities.com LNG tankers heading to Britain, Belgium and the Netherlands Business Recorder


BRAZIL: Brazil stocks to slog through worst year since 2008 as pandemic strikes Reuters Brazil Markets Are a Mess as Pandemic Adds to Political Woes Yahoo Canada Finance


BRITAIN: UK Stocks-Factors to watch on May 26 Reuters UK Is coronavirus uncertainty now priced into UK equities? Investment Week


CANADA: The close: TSX gains as pot stocks soar; Canada’s 10-year bond yield at all-time low The Globe and Mail CANADA STOCKS-Canadian stocks rise as more countries ease lockdowns Reuters


CHILE: EMERGING MARKETS-Latam stocks at 10-week high; Brazil's real gains Reuters Equities rally as reopenings trump geopolitical tensions - The Jakarta Post Jakarta Post


CHINA: Global stocks are mixed after Trump promised 'interesting' action against China, while Europe awaits a hu.. Markets Insider Global stocks shake off concern over US-China tensions Financial Times


COLOMBIA: Hong Kong stocks fluctuate amid new threat of US sanctions Hindustan Times EMERGING MARKETS-Latam stocks at 10-week high; Brazil's real gains Reuters


Consumer Entertainment: Sensex, Nifty Rise 1% As Financial, Consumer Goods Stocks Spike NDTV World Wrestling Entertainment Inc. Class A (WWE) Soars 1.98% on ... Equities.com


CZECH: Nature's Sunshine Products Inc. (NATR) Soars 2.74% on May 27 Equities.com CEE MARKETS-Stocks rise tracking rally in Western European equities Reuters


DENMARK: FTSE 100 LIVE: Eurozone stocks rally amid EU plan to prop up struggling economies Express.co.uk Daily Market Comment – Hong Kong tensions sink yuan but stocks ... XM (blog)


EGYPT: Egypt Hadisolb's shareholders approve estimated budget for FY20/21 ZAWYA MIDEAST STOCKS-Major Gulf indexes fall alongside subdued global equities Reuters


FINLAND: EUR/USD faces key test to stay above 1.1000 ForexLive ?Finland readies solvency safety net to avoid fire sales at pension ... IPE.com


FRANCE: French and Benelux stocks-Factors to watch Reuters European stocks climb as investors eye bigger-than-expected EU stimulus plan MarketWatch


GERMANY: European markets close sharply higher as gradual reopening continues; Airbus and Lufthansa shares rally CNBC German stocks outperform Europe as business morale rebounds Reuters


GREECE: Market Outlook: Equity indices clear big hurdles even as Hong Kong ... Investors Chronicle Europe Stocks Eke Out Gains as Rebound Laggards Beat Defensives swissinfo.ch


HONG KONG: Unrest in Hong Kong puts pressure on global equities Business Day Asia Session: Regional Equities Mixed On Hong Kong Tension; Oil ... Investing.com


HUNGARY: Shares, currencies slip on fears of rising U.S.-China tensions Financial Post CEE MARKETS-Stocks rise tracking rally in Western European equities Reuters


INDIA: India equities continue to trade at 30% premium over other EM peers Financial Express Indian stocks' performance this year to be worst since 2011 Economic Times


INDONESIA: Foreign investors sell RM715m off Bursa New Straits Times Online Asia markets trade mostly higher as China's National People's Congress continues CNBC


IRELAND: European markets lifted by EU’s €750bn economy recovery plan The Irish Times European markets lifted by EU’s €750bn economic recovery plan The Irish Times


ISRAEL: Wed: TASE extends losses Globes Israel picks local firm over Chinese for desalination plant Business Recorder


ITALY: Italy - Factors to watch on May 27 Reuters Italy - Factors to watch on May 28 Reuters


JAPAN: Gold down as Japanese equities rise on news of stimulus plan Business Day Coronavirus spawns new generation of Japanese stock pickers Financial Times


KAZAKHSTAN: Cash, equity holdings help wealth funds through pandemic Pensions & Investments Specialist hedge fund Delbrook mines volatility opportunities in ... HedgeWeek


LEBANON: LCNB Corporation (LCNB) Soars 12.81% on May 27 Equities.com Futures Movers: Oil prices tumble alongside global equities amid ... EnerCom Inc. (press release) (blog)


MALAYSIA: Malaysia shares up after S&P 500 closes above 3000 points The Edge Markets MY Foreign funds sell more Malaysian equities New Straits Times Online


MEXICO: An Odd Connection — Mexican Stocks and European Banks Barron's Brazil Stocks to Slog Through Worst Year Since 2008 as Pandemic ... The New York Times


NETHERLANDS: Market Outlook: Equity indices clear big hurdles even as Hong Kong ... Investors Chronicle Daily Market Comment – Hong Kong tensions sink yuan but stocks ... XM (blog)


NEW ZEALAND: NZ dollar rises with equities markets, boosted by positive export data New Zealand Herald Optimistic view of New Zealand equities likely to continue [+VIDEO] goodreturns.co.nz


NIGERIA: Nigerian Breweries, Stanbic, Guinness, Dangote party with N8.59 ... Nairametrics Nigeria: Equities Market's Bullish Streak Raised Investors' Gain to ... AllAfrica.com


NORWAY: Shares in Norwegian Zoom rival Pexip soar on stock market debut Financial Times ?Norway's new NOK50bn Government Bond Fund makes first ... IPE.com


OMAN: Market Update: Sensex rallies 996 points; banking and IT stocks in the lead Free Press Journal COVID-19 stops share buybacks that fuelled equities rally Times of Oman


PAKISTAN: Stocks barrel ahead as E&Ps rebound amid rate cut buzz The News International Stocks end flat in triggerless trade; investors await MSCI review The News International


PERU: Stocks rally, S&P 500 crosses 3000 barrier; oil gains TheChronicleHerald.ca EMERGING MARKETS-Latam stocks at 10-week high; Brazil's real gains Reuters


PHILIPPINES: Market down as investors dump Jollibee stocks INQUIRER.net SE Asia Stocks-Most markets rise on reopening economies; Philippines down over 2% Reuters UK


POLAND: Poland - Factors to Watch May 27 Thomson Reuters Foundation Shares, currencies slip on fears of rising U.S.-China tensions Financial Post


PORTUGAL: Citi appoints markets head for Switzerland and Lichtenstein The TRADE News LONDON MARKET CLOSE: Stocks Rally On Optimism Over ... Morningstar


QATAR: Qatar shares edge higher on domestic buying interest Gulf Times Qatar shares extend losses to to settle below 8800 level Gulf Times


QATAR: Qatar shares edge higher on domestic buying interest Gulf Times Qatar shares extend losses to to settle below 8800 level Gulf Times


ROMANIA: Romania - Factors to watch on May 28 Reuters Romania - Factors to watch on May 15 Reuters


RUSSIA: How Russia-focused Balchug Capital kept a cool head as markets ... Institutional Asset Manager (press release) (blog) POLL-Russian stocks to recover after COVID-19 in 2020, hit record highs in 2021 Reuters


SINGAPORE: Singapore shares dip at Thursday's open; STI down 0.2% The Business Times SGX shares drop most since 2003 on end of MSCI licence The Straits Times


SOUTH AFRICA: African equities investing: what lies ahead? Africa Global Funds (press release) Cash isn't what it used to be Moneyweb.co.za


SOUTH KOREA: South Korean Bank Stocks Are the Least-Loved Equities in Asia Bloomberg Coronavirus latest: South Korea reports sharp increase in new ... Financial Times


SPAIN: FTSE 100 LIVE: Travel stocks SOAR after holiday boost - Spain to REOPEN tourism in July Express.co.uk FTSE 100 LIVE: Eurozone stocks rally amid EU plan to prop up struggling economies Express.co.uk


SWEDEN: Daily Market Comment – Hong Kong tensions sink yuan but stocks ... XM (blog) Market Outlook: Equity indices clear big hurdles even as Hong Kong ... Investors Chronicle


SWITZERLAND: Citi appoints markets head for Switzerland and Lichtenstein The TRADE News Citi picks Neumann as markets head for Switzerland GlobalCapital


TAIWAN: Market Outlook: Equity indices clear big hurdles even as Hong Kong ... Investors Chronicle Taiwan Business Quick Take Taipei Times


THAILAND: Most SE Asia stocks rise on stimulus hopes, Malaysia leads Bangkok Post Thai stocks hit 10-week high amid regional rise on vaccine hopes Bangkok Post


TURKEY: POLL-Russian stocks to recover after COVID-19 in 2020, hit record highs in 2021 Nasdaq Shares, currencies slip on fears of rising U.S.-China tensions Financial Post


UAE: Rupee falls against dollar, touches 20.69 against UAE dirham - News Khaleej Times UAE markets open higher as trading resumes post-Eid Gulf News


UKRAINE: News & Tips: Equities surge, AstraZeneca, Ryanair, Burford Capital ... Investors Chronicle 3 “Strong Buy” Penny Stocks With Massive Upside Potential Nasdaq


UNITED STATES: Hong Kong stocks fall, bucking a rise elsewhere in Asia Aljazeera.com Asian stocks gain on economic hopes, but Hong Kong risk clouds ... Midwest Communication


VIETNAM: Vietnam is Asia's best stock market performer in May The Business Times SE Asia Stocks-Vietnam jumps on hopes of economy activity reviving; Philippines falls Reuters


Comment

Monthly performance is between 2020-05-01 and 2020-03-31

Best global markets YTD EFM ASIA-11.51%, USA-12.18%, EM (EMERGING MARKETS)-17.75%,

While worst global markets YTD EM LATIN AMERICA -43.82%, FM (FRONTIER MARKETS) -23.39%, EUROPE -20.88%,

Best global markets last month USA +9.83%, EFM ASIA +8.37%, EM (EMERGING MARKETS) +8.04%,

While worst global markets last month EM LATIN AMERICA 3.98%, EUROPE 5.23%, FM (FRONTIER MARKETS) 6.01%,
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  • BofA sees 10% further upside for European equities by third-quarter CNA
  • European Equities: U.S Labor Market Numbers to Have the Final Say Yahoo Finance
  • Bank of America sees 10% further upside for European equities by ... WTVB News
  • Outlook For Oil Remains Grim Despite 90% Rally OilPrice.com
  • Crude Oil Price Update - Needs to Hold Major 50% Level at $36.07 ... FX Empire
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  • India: Steel players’ operating profit to decline 20-30 pc in FY21: India Ratings Hellenic Shipping News Worldwide
  • Commodities Roundup: Steel production down 13%; aluminum ... Spend Matters
  • Trending stocks: Tata Steel shares jump nearly 5% Economic Times
  • Gold Rate 4 June: Gold Price Rises to Rs Rs 46,500 Per 10 Gram The Quint
  • Gold prices today rise after falling ?1,100 per 10 gram in 2 days Livemint
  • Gold price today: Rs 46,845 per 10 gm; silver at Rs 48,295 per kg Business Standard

    Best last month among various countries' equity markets were LEBANON +23.28%, PAKISTAN +17.27%, INDIA +16.13%, AUSTRIA +15.71%, VIETNAM +15.66%, CHILE +15.52%, THAILAND +14.99%, UKRAINE +14.39%, LITHUANIA +14.15%, TAIWAN +14.10%,

    While worst last month among various countries' equity markets were TRINIDAD AND TOBAGO -14.39%, JAMAICA -10.31%, MAURITIUS -7.85%, BOTSWANA -4.74%, BAHRAIN -3.96%, TUNISIA -3.79%, SERBIA -3.37%, BOSNIA AND HERZEGOVINA -2.12%, SRI LANKA -0.66%, BANGLADESH -0.06%,

    Best YTD among various country equities were ZIMBABWE +28.13%, LEBANON +23.37%, BOTSWANA +1.14%, DENMARK-1.63%, CHINA-5.92%, TAIWAN-7.94%, SWITZERLAND-8.42%, JORDAN-9.94%, TUNISIA-9.96%, NEW ZEALAND-10.48%,

    While worst YTD among various country equities were BRAZIL -48.67%, COLOMBIA -47.99%, MAURITIUS -42.78%, GREECE -39.96%, SRI LANKA -36.00%, ARGENTINA -35.40%, MEXICO -35.35%, SOUTH AFRICA -35.28%, HUNGARY -35.18%, PERU -34.96%,
    Chose Your Country



    News

    Best 10 Markets Last Month


    LEBANON 23.28%

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  • Lebanon president says reform begins with confronting corruption Middle East Monitor
  • Kaak Abou Arab Is Closing All Its Branches In Lebanon The961
  • Lebanese PM visits UN peacekeepers amid dispute over mandate Israel Hayom
  • Prime Minister Diab visits UNIFIL UNIFIL
  • IMF Says Having Constructive Talks With Lebanon on Economic ... The New York Times
  • Who is to blame for Lebanon's crisis? Aljazeera.com
  • IMF says having constructive talks with Lebanon on economic ... Investing.com
  • Lebanon to reinstate total lockdown amid spike in infections Minneapolis Star Tribune
  • Economic Crisis Is Killing Lebanon's Middle Class Foreign Policy (blog)
  • Who is to blame for Lebanon's crisis? Aljazeera.com
  • Explainer: Why is Lebanon in an economic and political mess? Reuters
  • Exports must be part of economic growth strategy Executive
  • Downtown projects cut in City of Lebanon budget for 2020-21 Lebanon Express
  • City budget for 2020-21 proposes 5.9 percent increase lebanonlocalnews.com
  • Long road ahead for Lebanon debt negotiations GlobalCapital
  • Lebanon banks reject rescue plan as government asks IMF for help Reuters

    PAKISTAN 17.27%

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  • UAE leaders send condolences to Pakistan President for plane ... WAM EN
  • The Queen sends message to the President of Pakistan following ... Royal Central
  • Aggression by India will receive ‘befitting response’: Pakistan foreign minister Hindustan Times
  • Naya Pakistan PM Imran Khan jumps to Chinas defence as India issues stern warning - Republic World Republic World
  • Pakistan’s economy contracts for first time in 68 years The Express Tribune
  • Local Performance Management Specialist, USAID/Pakistan ... ReliefWeb
  • Pakistan’s investment ratio dips to 15.4% The Express Tribune
  • US and India must develop plan to counter China''s efforts to strengthen its position in Indian Ocean Outlook India
  • Local Performance Management Specialist, USAID/Pakistan ... ReliefWeb
  • How Extreme Weather Conditions and Growing Population Drive Pakistan Toward a Wheat Crisis Yahoo India News
  • Pakistan's top export destinations have been devastated by Covid ... DAWN.com
  • Traders want 'Made in Pakistan' to be promoted The Express Tribune
  • Budget deficit reaches Rs1.68tr in nine months Profit by Pakistan Today
  • Budget deficit to swell to 9.6pc of GDP due to lockdown situation The Nation
  • US urges China to waive off Pakistan’s debt amid Covid-19 crisis The Express Tribune
  • Pakistan’s debt servicing soars to Rs1.9tr The Express Tribune

    INDIA 16.13%

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  • Brazil’s Marcos Troyjo is NDB’s new President, India’s Anil Kishora is VP Hindustan Times
  • Brazil''s Troyjo appointed president of BRICS bank; India''s Anil Kishora to be vice president Outlook India
  • LOOK: India Prime Minister Narendra Modi leads tributes to Balbir ... Gulf News
  • Jawaharlal Nehru's Death Anniversary: 10 quotes, messages by India's first Prime Minister; PM Modi pays tribute Business Today
  • India’s GDP growth seen at 1.2% for Q4 FY20: SBI report The Hindu
  • Economy may contract by over 40% in Q1: SBI Research Economic Times
  • The big growth leap: Covid gives India the opportunity to get growth without massive investment Financial Express (Hindi)
  • India is set to report a sharp slowdown as the pandemic hits its economy — and things could get even worse CNBC
  • India Is a Natural U.S. Ally in the New Cold War Wall Street Journal
  • Livelihoods, workers, and COVID-19 in India Policy Forum
  • Reconfiguring India's exports during COVID-19 East Asia Forum
  • India's exports contract 60% in April Deccan Herald
  • India’s Budget Gap Breaches Estimate on Poor Tax Collection Bloomberg
  • India’s budget gap for FY 19-20 breaches estimate on poor tax collection Economic Times
  • India Needs To Grow Its Way Back To A Sustainable Debt Path BloombergQuint
  • India’s debt binge will widen overall 2020-21 fiscal deficit to 13%, HSBC says ThePrint

    AUSTRIA 15.71%

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  • Coronavirus: Austrian president 'sorry' for breaking lockdown rules BBC News
  • Coronavirus: Austrian president 'sorry' for breaching his government's lockdown rules Sky News
  • PM Modi speaks to leaders of Austria, Egypt and Qatar to discuss Covid-19 crisis Hindustan Times
  • Covid-19: PM Modi talks to leaders of Qatar, Egypt and Austria Times of India
  • Fitch Revises Austria's Outlook to Stable; Affirms at 'AA+' Fitch Ratings
  • Austrian GDP to shrink 8% this year as lockdown persists, central bank says Reuters
  • Coronavirus Pandemic to Slow Austria's Insurance Market Growth Fitch Ratings
  • Engineering procurement platform Kreatize enters new market with ... Robotics and Automation News (press release)
  • Austria's efforts to accelerate its clean energy transition Modern Diplomacy
  • Rapid Growth on Gas Engine Market with COVID-19 Impact Analysis, Top Companies INNIO (Austria), Caterpillar (US), Wärtsilä Corporation (Finland), Rolls-Royce Holdings plc, Forecast To 2025 Cole of Duty
  • Covid-19’s impact on the Austrian economy ING Think
  • Austrian investors eye Kenyan Big Four trade deals The Star, Kenya
  • Austria's Budget Planning in Line with EU Rules Vindobona
  • Austria's debt ratio to shrink to below 60 percent by 2023 euronews English
  • Eastern Europe’s covid-19 recession could match its post-communist one The Economist
  • Fitch Revises Austria's Outlook to Stable; Affirms at 'AA+' Fitch Ratings

    VIETNAM 15.66%

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  • Forty five years after the fall of Saigon, the Vietnam War still holds ... USAPP American Politics and Policy (blog)
  • Sam Johnson, seven-year POW in Vietnam who became a Texas congressman, dies at 89 Washington Post
  • Vietnam Morning News For May 28, 2020 AEC News Today
  • Vietnam accelerates – dare we say it? – digital transformation for a fourth industrial revolution The Register
  • Coronavirus: Vietnam upbeat about economic recovery Deutsche Welle
  • Vietnam must turn coronavirus success into economic growth Nikkei Asian Review
  • Vietnam vows 5% growth in post-outbreak foreign investment pitch Nikkei Asian Review
  • Vietnam's FPT looks to lead tech rebound from coronavirus hit Nikkei Asian Review
  • Coronavirus: Vietnam upbeat about economic recovery Deutsche Welle
  • Vietnam posts second fastest growth of rich population VnExpress International
  • Vietnam exports lychees to Singapore, US & Australia FreshPlaza.com (press release)
  • Vietnamese ceramic tiles market is expected to register a CAGR of 8% Yahoo Finance UK
  • Vietnam budget transparency ascends global ranking VnExpress International
  • Vietnam's state budget collection up 8.7 pct in 2019 - Xinhua | English.news.cn Xinhua
  • Get private sector into debt trade, Vietnam advised VnExpress International
  • Vietnam succeeds in controlling public debt Nhan Dan Online

    CHILE 15.52%

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  • Coronavirus: Chile's president says healthcare system 'very close to the limit' BBC News
  • Chile President Sebastian Pinera tours COVID-19 field hospital - Republic World Republic World
  • Chile's hospitals under strain as cases near 70,000: Live updates Al Jazeera America
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  • Fitch: Real GDP Will Fall 4.5% in Colombia & 3.9% In Chile ... Finance Colombia
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  • How a Communist Mayor is Defeating Privatisation in Chile Resilience
  • The Struggle Against Neoliberalism In Chile – OpEd Eurasia Review
  • Chile exports 3,800 tons of blueberries in week 7 FreshPlaza.com (press release)
  • Chilean exporters say trade ties with China solid, based on long ... Xinhua
  • Chile’s Fiscal Outlook Worsens as Mass Unrest Slashes Tax Take Bloomberg
  • Analysis | What's at Stake in Chile Debate Over New Constitution Washington Post
  • Fitch: Real GDP Will Fall 4.5% in Colombia & 3.9% In Chile ... Finance Colombia
  • Credible Post-Pandemic Fiscal Plans Matter for Chile, Colombia Fitch Ratings

    THAILAND 14.99%

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  • THAI picks new board members, Piyasvasti returns Bangkok Post
  • Board shakeup as THAI debt rehab commences Bangkok Post
  • UN Coordinator commends Thai people's solidarity in fighting ... Pattaya Mail
  • Thai PM defends his decision to extend state of emergency till end ... Xinhua
  • Thailand: Further downgrade to GDP growth forecasts ING Think
  • Thailand: Steepest price fall since the financial crisis reflects huge drop in demand ING Think
  • Investment Opportunities in Thailand - ASEAN Business News ASEAN Briefing
  • Optimism for Thailand's post-COVID spa and wellness landscape ... Bangkok Post
  • We need to focus both on increased consumption and population ... Sustainability Times
  • Climate explained: why we need to focus on increased consumption as much as population growth The Conversation AU
  • Mangosteen Prices in China Witness Sharp Decline Produce Report
  • Thai exports up for a second month in a row Pattaya Mail
  • Thailand’s Budget Airlines Brace for a Challenging New Year Chiang Rai Times
  • Coronavirus: Week of Apr. 26 to May 2, US approves remdesivir Nikkei Asian Review
  • TG Union Changes Tact, Now Backs Gov’t Bailout Plans Khaosod English
  • Thailand morning news for May 15, 2020 AEC News Today

    UKRAINE 14.39%

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  • One Year On, Zelensky Survives Impeachment (Trump's, That Is ... Foreign Policy (blog)
  • What’s the verdict on Ukrainian President Volodymyr Zelenskyy’s first year in office? Euronews
  • Qatar sent almost 9 tons of personal protection equipment for ... ReliefWeb
  • Kremlin's agent in Ukraine's Cabinet: Instigator of official notified on ... 112 International
  • IMF forecast: Damage to Ukrainian economy due to coronavirus pandemic 112 International
  • Ukraine faces deepening recession due to coronavirus lockdown: Reuters poll Reuters
  • KYIV BLOG: Ukraine battered by the winds of crisis, but still standing ... bne IntelliNews
  • Ukraine's government aims at Top 30 of World Bank's Doing Business UNIAN
  • KYIV BLOG: Ukraine battered by the winds of crisis, but still standing ... bne IntelliNews
  • Fitch Revises City of Lviv's Outlook to Stable on Sovereign Rating ... Fitch Ratings
  • KYIV BLOG: Ukraine battered by the winds of crisis, but still standing ... bne IntelliNews
  • Zelensky: SMEs need export opportunities available to large business Ukrinform. Ukraine and world news
  • Ukraine's budget did not get UAH 45 bln in planned revenues in Q1 ... MENAFN.COM
  • Ukraine’s budget deficit amounts to over $1,1 billion 112 International
  • UNIAN: Ukraine debt - Public debt in US dollars shrinks by 3.6% in ... Kyiv Post
  • Ukraine blocks oligarch’s bid to regain bank and clears way for international funds Washington Post

    LITHUANIA 14.15%

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  • Week in Lithuania: President wants a probe into Transport Minister's ... bnn-news.com
  • Lithuania's govt approves president's 'child money' proposal Baltic Times
  • Lithuania's Interior Minister Wants to Abolish Border Controls With ... SchengenVisaInfo.com
  • Week in Lithuania: Government rolls out COVID-19 management ... bnn-news.com
  • Lithuania's govt broadly agrees on guidelines for 5G development Baltic Times
  • [News Focus] Korea falls behind Japan, US in Q1 GDP growth The Korea Herald
  • Valoe Interim Report 1 January - 31 March 2020 Helsinki Stock ... GlobeNewswire (press release)
  • Logistics – the next frontier for Lithuanian GBS Invest Lithuania (press release)
  • UN statistics show that migration has an impact on how individual ... D+C Development and Cooperation (press release)
  • In review: TMT regulation in Lithuania Lexology
  • EU Dried and Smoked Fish Market is Driven by Rising Demand in ... Global Trade Magazine (blog)
  • Norwegian exports down after 18 months growth – Fish Farmer ... Fish Farmer Magazine
  • Budget seen recording revenue shortfall EN DELFI
  • State Treasury: Latvian state budget's completion decline is not ... bnn-news.com
  • State aid: coronavirus - Lithuania EU News
  • Bank: Lithuanian billion-rescue-plan may be slowed down by red tape bnn-news.com

    TAIWAN 14.10%

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  • Taiwan president pledges humanitarian relief for Hong Kongers The Japan Times
  • Taiwan President Tsai pledges action plan for Hong Kong protesters The News International
  • China clashes with New Zealand for supporting Taiwan rejoining WHO - Business Insider Business Insider
  • Taiwan's Medical Diplomacy in the Caribbean: A Final Stand ... The Diplomat
  • Taiwan first-quarter GDP slows to four-year low as pandemic hurts consumption Reuters
  • Taiwan Dodges the Worst Economic Impacts of Coronavirus Bloomberg
  • Taiwan Dodges the Worst Economic Impacts of Coronavirus Bloomberg
  • Is Taiwan Fire & Marine Insurance Co., Ltd.’s (TPE:2832) High P/E Ratio A Problem For Investors? Simply Wall St
  • Taiwanese President Tsai Ing-wen Inaugurated For a Second Term TIME
  • Taiwan's success in fighting coronavirus has bolstered its global standing. This has infuriated Beijing CNN International
  • Taiwan warns on China-U.S. trade frictions as exports tick down Reuters
  • Asia week ahead: Manufacturing to nosedive ING Think
  • Most US firms in Taiwan feeling pinch from Covid-19, wary of more impact South China Morning Post
  • Solomon Islands breaks with Taiwan as China pulls out checkbook Los Angeles Times
  • We Think ScinoPharm Taiwan (TPE:1789) Can Stay On Top Of Its Debt Simply Wall St
  • Tigerair Taiwan (GTSM:6757) Seems To Use Debt Quite Sensibly Simply Wall St

    Worst 10 Market Last Month


    TRINIDAD AND TOBAGO -14.39%

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  • Le Hunte, Marlene screen for PNM today Trinidad & Tobago Express Newspapers
  • 'T&T NOT BOUND BY RIO TREATY' Trinidad & Tobago Express Newspapers
  • Office of Prime Minister of Trinidad and Tobag : Prime Minister ... marketscreener.com
  • Trinidad and Tobago's economy in the era of COVID-19 MENAFN.COM
  • Rising risk for C’bean economies Trinidad & Tobago Express Newspapers
  • Touchstone agrees $20m loan to develop Ortoire assets in Trinidad Value The Markets
  • Fintech: an asset for our post-COVID-19 economy Trinidad & Tobago Express Newspapers
  • Trinidad and Tobago Insurance Market Analysis and Outlook During ... Cole of Duty
  • Tracking COVID-19 Pandemic in CARICOM - Trinidad and Tobago Reliefweb
  • The mechanics of the path to recovery Trinidad & Tobago Express Newspapers
  • COVID-19 Pandemic and the Caribbean: Navigating Uncharted ... International Monetary Fund (blog)
  • Demerit system about saving lives Trinidad & Tobago Express Newspapers
  • $449m in VAT bonds ready Trinidad & Tobago Express Newspapers
  • Digicel debt ‘unsustainable’ Trinidad & Tobago Express Newspapers
  • Auditor General highlights T&T’s debt sustainability Trinidad & Tobago Express Newspapers

    JAMAICA -10.31%

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  • JTA head hits back at 'bitter' Pembroke Hall principal Jamaica Gleaner
  • Ricketts defends JFF's flight arrangements | Sports Jamaica Gleaner
  • Prime Minister Says Jamaicans Must Not Let Success Become The ... Government of Jamaica, Jamaica Information Service
  • 'I'm down to $50 right now' Jamaica Observer
  • Economy may shrink up to 14% in June quarter Jamaica Gleaner
  • Executive Board Approves a US$ 520 Million Disbursement to Jamaica to Address the COVID-19 Pandemic International Monetary Fund
  • Jamaican CBD maker says it has secured $1 million to expand HempToday (blog)
  • Upcoming Online Caribbean and Diaspora Business Seminar ... South Florida Caribbean News
  • Executive Board Approves a US$ 520 Million Disbursement to Jamaica to Address the COVID-19 Pandemic International Monetary Fund
  • 175 years of Indians in Jamaica Jamaica Observer
  • Economy contracts for March quarter – BOJ Jamaica Observer
  • Realising untapped export potential Jamaica Observer
  • Jamaica Budget 2020/21: Trying to right some wrongs Jamaica Observer
  • How Do America's Schools Compare To Jamaica's? : Planet Money NPR (blog)
  • Jamaica debt development and the IMF | News Jamaica Gleaner
  • Lessons from Jamaica for small countries with big debts Financial Times

    MAURITIUS -7.85%

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  • PM Modi calls Sri Lanka’s president, Mauritian counterpart; promises help during Covid-19 pandemic Hindustan Times
  • Coronavirus | Narendra Modi discusses COVID-19 situation with Sri Lankan President, Mauritius PM The Hindu
  • Coronavirus | Narendra Modi discusses COVID-19 situation with Sri Lankan President, Mauritius PM The Hindu
  • Telephone conversation between PM and Prime Minister of Mauritius India Education Diary
  • Mauritius to Face Negative Growth of 6.8 Percent in Best-Case ... AllAfrica.com
  • How Mauritius' outward-focused economy survived previous shocks The Conversation Africa
  • Mauritius: Printing Money for Government (Parts I & 2) AllAfrica.com
  • Mauritius: an African success story Inventa International (press release)
  • The Mauritian response to COVID-19 | VOX, CEPR Policy Portal voxeu.org
  • Mauritius to Face Negative Growth of 6.8 Percent in Best-Case ... AllAfrica.com
  • How Mauritius' outward-focused economy survived previous shocks The Conversation Africa
  • Africa's Frozen Whole Fish Market - Nigeria Emerges As the Largest ... Global Trade Magazine (blog)
  • Mauritius Urged by Top Lender to Borrow From Local Banks BloombergQuint
  • Tamil Nadu govt should present new budget for FY21: MK Stalin WeForNews (press release) (blog)
  • Mauritius: The COVID-19 (Miscellaneous Provisions) Act 2020, Bank of Mauritius Act and Public Debt Management Act - extreme measures to sustain the economy. Lexology
  • Mauritius Urged by Top Lender to Borrow From Local Banks BloombergQuint

    BOTSWANA -4.74%

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  • Botswana president to go into third quarantine after Zimbabwe trip Independent Online
  • Botswana to Begin Lifting Lockdown to Reopen Economy, Schools Voice of America
  • 8 leaders meet over Covid-19 The Herald
  • Live COVID-19 updates: Spain to mourn virus victims for ... Xinhua
  • Stanbic celebrates Africa and its wealth of possibilities The Patriot On Sunday (press release)
  • Botswana cuts benchmark rate to boost economy - Xinhua | English ... Xinhua
  • Ninety One sells portion of private equity investment in Kamoso ... Private Equity Wire (press release) (blog)
  • Ninety One exits Kamoso Africa to BDC Africa Global Funds (press release)
  • Stanbic celebrates Africa and its wealth of possibilities The Patriot On Sunday (press release)
  • 2020 Future Of Botswana Telecommunications Market- Trends ... Cole of Duty
  • Monetary Policy Committee Decision - April 2020 marketscreener.com
  • Coronavirus (COVID-19) - ISSUE 351 | 10 MAY 2020 Lexology
  • UPDATE 1-Botswana cuts rates, banks' capital ratios in coronavirus response Reuters
  • Mmegi Online :: Will Botswana join Africa's scramble for IMF loans? Mmegi Online
  • All About Botswana Africa.com
  • China: A loan shark or the good Samaritan? Deutsche Welle

    BAHRAIN -3.96%

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  • KHK and MTK to host Global Boxing Summit in Bahrain ABS-CBN Sports
  • Other Sports: Bahrain to host groundbreaking boxing summit Gulf Digital News
  • Bahrain News: Prime Minister issues edict announcing Eid Al Fitr ... Gulf Digital News
  • Bahrain suspends collection of shop rentals for three months Arab News
  • Blue Economy ‘key to Bahrain growth’ ZAWYA
  • Oil Production Cut Deepens GCC Fiscal Deficit, Hinders Growth Fitch Ratings
  • Blue Economy ‘key to Bahrain growth’ ZAWYA
  • In the Middle East, COVID-19's legacy will be Fintech Data Economy
  • Coronavirus: Bahrain sees fintech take-up surge amid Covid-19 crisis ComputerWeekly.com
  • Kinahan Appointment Could Make Bahrain a Heavyweight Destination BoxingScene.com
  • Bahrain Business: Bahrain-Korea trade registers double-digit growth ... Gulf Digital News
  • Rockwell to name Al Ghandi as authorised UAE distributor Trade Arabia
  • Bahrain follows Saudi Arabia, Oman with budget cuts amid crisis Gulf Business News
  • Bahrain budget deficit down 24pc in 2019 Trade Arabia
  • Oil price crash hits Mideast economies hard New Delhi Times
  • Exclusive: Bahrain in talks for $1 billion loan after bond plans suspended - sources Reuters

    TUNISIA -3.79%

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  • Tunisia: Ennahda vice president quits politics Anadolu Agency
  • Former Tunisian President's Son-In-Law Released Following ... Asharq Al-awsat English
  • Tunisian PM says gov't committed to push forward reforms - Xinhua | English.news.cn Xinhua
  • Tunisian PM vows to exit COVID-19 outbreak with slightest damage ... Xinhua
  • Fitch Downgrades Tunisia to 'B'; Outlook Stable Fitch Ratings
  • Coronavirus and Tunisia's Regional Economic Inequalities Carnegie Endowment for International Peace
  • Coronavirus and Tunisia's Regional Economic Inequalities Carnegie Endowment for International Peace
  • Development Partners International makes USD56m investment in ... Private Equity Wire (press release) (blog)
  • Can Tunisia Shake Off “Business As Usual” Following Covid-19? ?????? ??????? ??????
  • Water, energy and food security key to MENA stability | Omar El-Huni The Arab Weekly
  • Tunisia: Agricultural and food exports dropped by 11.2% in Q1 of 2020 FreshPlaza.com (press release)
  • Tunisia Exports 146,000 Tons of Olive Oil Amid COVID-19 Crisis Olive Oil Times
  • Fitch Downgrades Tunisia to 'B'; Outlook Stable Fitch Ratings
  • Tunisia: budget deficit widens by 48% in Q1 to 1.4 billion dinars African Manager (press release) (blog)
  • Tunisia enters debt-to-repay cycle | Lamine Ghanmi | AW The Arab Weekly
  • Tunisia: the unstoppable race towards debt! African Manager (press release) (blog)

    SERBIA -3.37%

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  • Serbia and Montenegro's Strongman Leaders United in Self-Interest Balkan Insight
  • Serbia's President Turned the Pandemic Into a Tacky Campaign Balkan Insight
  • Tensions rise between Montenegro and Serbia over the opening of ... European Western Balkans (press release)
  • Montenegro Accused of Anti-Serb Bias for Continued Border Closure Balkan Insight
  • BIRN Fact-check: Can Serbia Really be so Proud of its Economic ... Balkan Insight
  • Serbia aims to post Europe's highest economic growth in 2020 - fin ... SeeNews
  • BIRN Fact-check: Can Serbia Really be so Proud of its Economic ... Balkan Insight
  • Investments in the IT sector exceed EUR 80 per capita Serbian Monitor
  • Serbia's startup ecosystem at a glance EU-Startups (press release) (blog)
  • 2020 FUTURE OF SERBIA AUTOMOBILE MARKET – TRENDS ... Cole of Duty
  • Serbia's GDP to drop 1.5% in 2020 due to coronavirus crisis - c-bank SeeNews
  • Brussels: "Serbian GDP at -4.1%, Balkan region at -9.1%". - Serbian ... Serbian Monitor
  • Serbia's budget turns to deficit in Q1 SeeNews
  • Serbia may again revise state budget in 2020 - PM SeeNews
  • Serbia's debt-to-GDP ratio at 48.2% - PM SeeNews
  • According to the Fiscal Council, a one-off payment of 100 euro is a ... Serbian Monitor

    BOSNIA AND HERZEGOVINA -2.12%

  • macro bonds quick news
  • Vice-President of the Olympic Committee of Bosnia and ... Sarajevo Times
  • Chairman of Bosnian Presidency: Azerbaijan is true and sincere ... Sarajevo Times
  • Montenegro Accused of Anti-Serb Bias for Continued Border Closure Balkan Insight
  • Bosnian Presidency Chairman spoke with Prime Minister of the ... Sarajevo Times
  • Poverty Will Stalk Bosnia When This Pandemic Ends Balkan Insight
  • NIN Economic Power Index: WB economies behind Bulgaria ... European Western Balkans (press release)
  • [EWB Interview] Sattler: Leaders of Bosnia and Herzegovina must ... European Western Balkans (press release)
  • Crisis Response is complicated by Complex Political Economy in ... Sarajevo Times
  • Poverty Will Stalk Bosnia When This Pandemic Ends Balkan Insight
  • Partly false claim: Map predicts Muslim population in Europe in 2050 Reuters
  • Exports of Food from Bosnia and Herzegovina increased during ... Sarajevo Times
  • Poverty Will Stalk Bosnia When This Pandemic Ends Balkan Insight
  • How The Coronavirus Might Finally Fix Bosnia The American Interest
  • Covid-19: The Consequences for SME in Bulgaria, Hungary and ... Novinite.com
  • Bosnia and Herzegovina in-debts Thirty Million Euros for Roads ... Sarajevo Times
  • Bosnia's Federation govt raises stake in Union Banka after debt-to ... SeeNews

    SRI LANKA -0.66%

  • macro strategy bonds quick news
  • Rajapaksa’s office responds to report The Hindu
  • Sri Lanka’s Foreign Policy is Non-aligned, Both India and China are Valued Friends: PM Mahinda Rajapaks... News18
  • PM Modi congratulates Sri Lankan PM Mahinda Rajapaksa on ... All India Radio
  • Sri Lankan PM Mahinda Rajapaksa calls for better economic cooperation with India Outlook India
  • Sri Lanka's economic growth to slide for fifth successive year : CBSL News 1st (press release)
  • Sri Lanka records a subdued growth of 2.3-pct in 2019: CBSL ... Lanka Business Online
  • Positioning Sri Lanka as South Asia's 'AgTech Hub' ft.lk
  • After COVID, China braces for global BRI backlash Africa Times
  • Sri Lanka’s Foreign Policy is Non-aligned, Both India and China are Valued Friends: PM Mahinda Rajapaks... News18
  • Menstrual Hygiene Day: Advocata Institute recommends tariff ... adaderana.lk
  • India’s trade with South Asia less than 4% of global trade; China’s trade with region increases by ... Hindustan Times
  • Sri Lanka : Sri Lanka export earnings drop 64% in April 2020 due to ... Colombo Page
  • Govt. guzzles more revenue from fuel ft.lk
  • Sri Lanka budget deficit reaches 4.4-pct of GDP by July | EconomyNext EconomyNext
  • The Belt and Road in Sri Lanka: Beyond the Debt Trap Discussion The Diplomat
  • Sri Lanka rupee quoted weaker, bond yields edge up EconomyNext

    BANGLADESH -0.06%

  • macro bonds quick news
  • President, PM felicitate UN peacekeeping members The Financial Express BD
  • Forlorn presidential palace as virus mutes Eid celebrations in Bangladesh bdnews24.com
  • Sheikh Hasina Speaks With Mamata Banerjee, Enquires About Cyclone Damages In Bengal NDTV
  • Cyclone Amphan: India, Bangladesh begin clean-up operation Aljazeera.com
  • Pandemic and the test of economic growth The Financial Express BD
  • Global Events Pose a Threat to Food and Water Security in ... Future Directions International (press release)
  • Bangladesh company says it will build mask factory in Detroit Crain's Detroit Business
  • Covid19 and foreign investment The need for scrutiny The Financial Express BD
  • Global Events Pose a Threat to Food and Water Security in ... Future Directions International (press release)
  • Dealing with the Impact of COVID-19 in Bangladesh - BORGEN Borgen Project
  • Bangladesh: Global slowdown and Covid19 hits nation hard Observer Research Foundation
  • Global Events Pose a Threat to Food and Water Security in ... Future Directions International (press release)
  • Bangladesh faces a budget black hole as lockdown costs billions in lost revenue bdnews24.com
  • NBR to chase Tk 3.3tn tax target in next FY The Financial Express BD
  • Economists rely on reserve to offset COVID-19 impactsitename%% dailyindustry.news
  • Will Covid-19 cause an economic depression? Dhaka Tribune

    Top 10 Longs Based on Momentum

    tickernamecountrysectorPeriodChange
    OVVOVINTIV INCCanadaEnergy85.70
    TRGPTARGA RESOURCES CORPUnited StatesEnergy82.07
    TWLOTWILIO INC CLASS AUnited StatesInformation Technology79.49
    JSMRJASA MARGAIndonesiaIndustrials70.17
    ALFAAALFA AMexicoIndustrials68.99
    TOPGLOVTOP GLOVE CORPORATIONMalaysiaHealth Care63.87
    086900MEDY-TOX INCKorea (South)Health Care62.87
    FLTFLIGHT CENTRE TRAVEL GROUP LTDAustraliaConsumer Discretionary62.19
    GGALGRUPO FINANCIERO GALICIA ADR REPTGArgentinaFinancials60.71
    WIXWIX.COM LTDIsraelInformation Technology58.31

    Top 10 Shorts Based on Momentum

    tickernamecountrysectorPeriodChange
    LTMLATAM AIRLINES GROUP SAChileIndustrials-51.76
    300529JAFRON BIOMEDICAL CO LTD AChinaHealth Care-47.26
    WDIWIRECARD AGGermanyInformation Technology-32.61
    002916SHENNAN CIRCUITS LTD AChinaInformation Technology-30.72
    603939YIFENG PHARMACY CHAIN LTD AChinaConsumer Staples-27.83
    CINFCINCINNATI FINANCIAL CORPUnited StatesFinancials-27.78
    1138COSCO SHIPPING ENERGY TRANSPORTATIChinaEnergy-26.15
    300595OVCTEK CHINA INC AChinaHealth Care-24.45
    SWDYELSWEDY ELECTRICEgyptIndustrials-23.49
    2359WUXI APPTEC LTD HChinaHealth Care-23.44

    Z-rankings Methodology - Top Global Long Picks

    TickerCompanySectorPE RATIO
    2018    		PE RATIO
    2019    		PE RATIO
    2020    		EV/EBITDA
    2018    		EV/EBITDA
    2019    		EV/EBITDA
    2020    		P/S
    2018    		P/S
    2019    		P/S
    2020    		P/B
    2018    		P/B
    2019    		P/B
    2020    		DIVIDEND YIELD
    2018    		DIVIDEND YIELD
    2019    		DIVIDEND YIELD
    2020    		GROSS MARGIN
    2018    		GROSS MARGIN
    2019    		GROSS MARGIN
    2020    		ROA
    2018    		ROA
    2019
    JSTL IN zranksJSW Steel LtdMaterials9.28.731.95.97.38.20.50.90.72.01.21.21.40.01.10.00.030.37.43.3
    MAGN RM zranksMagnitogorsk Iron & Steel Works PJSCMaterials5.28.82.72.84.14.51.00.81.01.41.41.414.49.026.332.727.227.117.411.0
    UPS US zranksUnited Parcel Service IncIndustrials13.515.618.311.011.413.01.41.21.227.730.717.03.73.34.019.320.410.910.08.2
    BVT SJ zranksBidvest Group Ltd/TheIndustrials16.014.014.59.910.17.30.80.90.72.82.51.82.83.22.628.929.80.07.06.3
    BA US zranksBoeing Co/TheIndustrials20.10.00.013.4356.667.32.41.91.2540.00.00.02.22.51.419.45.89.39.1-0.5
    639 HK zranksShougang Fushan Resources Group LtdMaterials7.77.87.32.82.72.42.32.32.10.60.60.510.610.29.451.651.447.25.15.3
    006800 KS zranksMirae Asset Daewoo Co LtdFinancials9.97.98.917.012.882.70.91.02.30.50.50.53.43.43.50.00.00.00.40.5
    2883 TT zranksChina Development Financial Holding CorpFinancials18.011.115.612.38.30.00.50.50.70.90.80.73.10.03.50.00.099.70.30.5
    OKE US zranksONEOK IncEnergy19.424.614.514.018.410.63.11.81.53.45.02.96.04.79.914.618.929.16.66.4
    LMT US zranksLockheed Martin CorpIndustrials12.815.416.110.212.212.11.81.41.752.834.919.53.12.32.613.514.012.811.013.5

    Z-rankings Methodology Top Short Picks

    TickerCompanySectorPE RATIO
    2018    		PE RATIO
    2019    		PE RATIO
    2020    		EV/EBITDA
    2018    		EV/EBITDA
    2019    		EV/EBITDA
    2020    		P/S
    2018    		P/S
    2019    		P/S
    2020    		P/B
    2018    		P/B
    2019    		P/B
    2020    		DIVIDEND YIELD
    2018    		DIVIDEND YIELD
    2019    		DIVIDEND YIELD
    2020    		GROSS MARGIN
    2018    		GROSS MARGIN
    2019    		GROSS MARGIN
    2020    		ROA
    2018    		ROA
    2019
    PAH3 GR zranksPorsche Automobil Holding SEConsumer Discretionary4.54.64.80.02,481.80.0175.9153.5128.70.50.60.44.34.74.90.00.092.910.712.7
    PFC LN zranksPetrofac LtdEnergy32.223.45.67.56.84.20.30.40.22.92.71.06.37.59.412.311.27.71.01.2
    NPN SJ zranksNaspers LtdConsumer Discretionary63.026.925.70.00.00.030.335.319.04.13.63.10.50.60.336.936.138.639.620.0
    3037 TT zranksUnimicron Technology CorpInformation Technology19.418.816.14.36.75.20.70.40.80.71.41.43.62.63.211.113.715.11.63.0
    TEN IM zranksTenaris SAEnergy14.617.90.08.09.311.31.81.71.41.11.10.63.83.64.331.130.028.86.15.1
    FIS US zranksFidelity National Information Services IncInformation Technology30.856.825.614.529.620.16.04.06.93.31.71.81.31.01.133.936.041.13.50.6
    BP/ LN zranksBP PLCEnergy13.531.5131.45.77.26.90.50.40.41.31.30.96.46.610.115.416.925.73.41.4
    COG US zranksCabot Oil & Gas CorpEnergy20.010.731.99.05.811.23.54.65.14.53.23.61.12.02.045.648.057.612.515.7
    TEVA IT zranksTeva Pharmaceutical Industries LtdHealth Care0.00.05.0215.429.28.20.60.90.81.10.81.00.00.00.045.444.652.1-3.3-1.7
    883 HK zranksCNOOC LtdEnergy9.08.531.23.63.64.72.22.12.51.11.20.86.66.73.20.00.055.98.18.5

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    This section contains links to materials about Midlincoln deurbanisation enterprise intitiative.

    Midlincoln is testing rural co-working model as its core business. Half of the co-working space is dedicated to investment analytics service and half of the space is industrial, creative environment with machines and tools which can be used in product development and small scale production. Our deurbanisation enterprise intitiative includes the following ideas:

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