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Global Investment Strategy with Emerging Markets Focus

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Press mentions highlights

Ukraine Election Brings Market Triumph for Bonds: Russia Credit
Poroshenko's election victory is "quite positive for the Ukrainian investment case," according to Ovanes Oganisyan, a strategist at MidLincoln Research in Moscow. "In Russian bonds there was a move already, but Russia will also be in a much better spot. There is reason to be slightly more optimistic."
MSCI May Rebalancing Preview
According O.Oganesyan, Russia's weight in the index MSCI EM may be even lower - 4.7%. "As the Russian economy as a whole, the stock market there are structural problems. Large companies set too high a bar for inclusion in the index of other Russian companies, so many issuers officials simply have no chance to get into the base for the calculation of indices MSCI.
Wall Street investment bank's dilemma: stay away from or close to Russia?
Moscow Midlincoln Institute strategist Ovanes Oganisian on Bloomberg told reporters that "at the moment this time, only Putin's most loyal partner in the St. Petersburg forum will show up, they will pretend to Ukraine incident behind, but the truth is Russia's position in the emerging markets already are not as important. "
Deposit Insurance Fund gets additional 2 bn$ for Crimea
Furthermore, according to Midlincoln Research Ovanes Oganisian, whats coming to a fund is a way to recapitalise the fund in the environment of higher revoking licensing frequency rates.
Wall Street Ties to Putin Threatened as Sanctions Bite

Ukraine Crisis Nets Billions of Dollars for Kremlin

Moscow Bourse Weight Upped in MSCI 10/40

Upcoming MSCI 10-40 rebalancing

Russia Stocks Climb as Norilsk to Rosneft Gain on Ruble Weakness

Ulyukaev wants to speed up privatisation

???70%???????????

Russian Central Bank is up for reorganisation of regional structure.

Masterbank mess could help Sberbank to get hold of

infrastructure

Retailer Metro is moving closer to Moscow Exchange

Boeing 737 Crashes in Russian City of Kazan, Killing 50

Russian oil and gas sector, avoiding toilet paper shortage

My favorite research piece

Is Russia on the Path of Becoming a Frontier Market?

Contact Sport of Russian M&A

Looking for the Center of Financial Mass



Russia's Economic Epic

Trends for 2012 and 2013 | The Moscow Times

Pussy Riot Verdict, What will the market say?

Privatization of the Pension System Delayed

Trends on the Russian M&A Market: Theory vs. Practice

A Pre-election Buy-Back

Will Fast Russian Companies Ever Emerge?

New IPOs Get Squeezed by the Size of Gazprom

History of Russia's IPOs as Reflected in the MSCI Russia Index

AvtoVAZ — an Ongoing Problem

The Last Convergence Attempt – State Firms Must Focus on Profit and Dividends

Small Business Vanishes



The Future Landscape of the Russian Stock Marke

Boosting Russia's Export Trade

Alchemists Sought Philosopher's Stone, Investors Prefer Gas

Microsoft Product Support Services

Recent Research

2014-07-28
ML Economics and Politics July 28
Russia Vladimir Putin's Truth Problem: Five Holes in the Russian .../.../UK Deputy Prime Minister wants Russia stripped of 2018 World Cup/.../IMF cuts Russia's GDP growth forecast/.../Uneven global recovery continues, says IMF/.../Population crisis:

2014-07-28
Unlucky July. This time its Yukos which will cost Russians 2.5% of GDP.
Unfortunately it looks like nationalisation of Yukos went in favor of Putin�s state oligarchs who were primary beneficiaries of the whole process, While now the taxpayers are supposed to pay the state debt associated with Yukos. After Hagues court d

2014-07-25
MidLincoln Aggregates for Funds
Fund flow shows inflow. Japan stocks inflow is strong as well as China which received the most inflows c. 11 bn$ among GEM equity destinations as Chinese shares rally on good economic news. Inflows accelerate across all emerging markets India f

2014-07-24
Midlincoln Research CIS Economics and Politics Update
Midlincoln Research CIS Economics and Politics Update (previous message "Portfolio update" from yesterday was sent out erroneously, due to technical glitch, our apologies) Georgia Ex-Georgia president Eduard Shevardnadze dies at age 86/...

2014-07-23
MidLincoln GEMs Portfolio Update
Performance update Since inception on Feb 2 we are doing well in absolute terms in Brazil, China, Russia and South Korea. We are doing poorly in absolute terms in India, and Turkey, while our performance in SA is has improved in absolute terms. Rela

2014-07-20
Econ Politics Week of July 21
Russia Malaysia Airlines MH17 crash: Russian President Vladimir Putin is .../.../Malaysia Airlines MH17: Dutch prime minister Mark Rutte warns .../.../Russian markets rattled by new sanctions/.../Q&A: Russia's Investment Climate Improving, Says/.../

2014-07-18
MidLincoln Research Aggregates for Funds
Fund flows show quite healthy inflows. We have seen 17bn$ in total inflows for the funds that we track during the week between July 8 and July 15. Its quite difficult to spot a loser among fund classes. Russia fixed income funds outflow albeit smal

2014-07-17
Datamine Special - US Russia Relations last 14 years
Russia signs Start -II Kursk Disaster Nato Grows East Start -2, ABM treaties abandoned Rose revolution alienates Russia, Georgia Orange Revolution sets background for Ukraine - NATO cooperation Ukraine - Nato cooperation talks accelerate Russi

2014-07-16
MidLincoln GEMs Portfolio Update
Performance update Since inception on Feb 2 we are doing well in absolute terms in Brazil, China, Russia and South Korea. We are doing poorly in absolute terms in India, S Africa and Turkey. Relative to benchmark we are doing well in China, Russia

2014-07-11
MidLincoln Emerging Markets Charts and Datamine
Portuguese bond yields rise Portuguese Equities Fall OIL Price Technicals Point UP Gold Price Surges on ME Instability Silver Price Surges on ME Instability US home purchase applications growth slower despite lower rates Canadian

2014-07-09
ML GEMs Portfolio Performance Update
Performance update Since inception on Feb 2 we are doing well in absolute terms in Brazil, China, Russia and South Korea. We are doing poorly in absolute terms in India, S Africa and Turkey. Relative to benchmark we were doing well in China, Russi

2014-07-07
MidLincoln Econ and Politics July 7
Russia Vladimir Putin to Start Latin America Tour in Cuba: Russia President .../.../Finnish Prime Minister Still Eyes NATO Membership/.../Russia's economic growth to accelerate to over 3% in 2017 .../.../Severstal: A bright spot in the Russian metal

2014-07-07
MidLincoln Research Aggregates for Funds July 7
There is still no evidence according to the data that is collected by MidlLncoln Research that risk trade is off. We see healthy inflows into the funds of practically all asset classes. Equity funds are especially highlighted on the positive side.

2014-07-04
MidLincoln Emerging Markets Charts and Datamine
Interests rates to be low mantra Trading is really slow like but it will change VIX at minimums but it will change Iron ore prices are bouncing from recent lows Oil price trade - sell India or Turkey against Russia US corporate earni

Markets Week Change and Best&Worst


Weekly Index Performance
NdexLastWkChPct
Shanghai Stock Exchange Compos2157.834.80
Hong Kong Hang Seng Index24363.693.88
Borsa Istanbul 100 Index84218.022.31
Nikkei 22515535.422.10
S&P BSE SENSEX Index26126.751.89
Ibovespa Brasil Sao Paulo Stoc57821.081.42
Korea Stock Exchange KOSPI Ind2044.151.22
FTSE 100 Index6791.550.62
Warsaw Stock Exchange WIG Tota51608.790.57
Mexican Stock Exchange Mexican44386.620.24
Jakarta Stock Exchange Composi5088.80.04
S&P 500 Index1978.340.01
FTSE/JSE Africa All Share Inde51550.17-0.28
Dow Jones Industrial Average16960.57-0.82
Russian Depositary Index USD1473.1-1.94
Russian Trading System Cash In1246.25-2.35
MICEX Index1388.41-2.40

Weekly Currency Performance
CurrencyLastWkChPct
USDCAD1.08140.75
USDEUR0.74450.68
USDNOK6.21930.49
USDJPY101.830.48
USDBRL2.22980.16
USDRUB35.14350.03
USDPKR98.7420.02
USDAUD1.06450.01
USDINR60.105-0.30
USDCNY6.187-0.34
USDKRW1024.67-0.45
USDTRL2093940-1.39
USDZAR10.4976-1.41

Weekly Commodities Performance
nameunitsPriceWeekCh
ICE COFFEE "C"USD/LB.179.153.92
ICE COCOAUSD/MT3194.003.63
CME LIVE CATTLEUSD/LB.159.803.54
CME FEEDER CATTLEUSD/LB.218.253.12
CBOT OATSUSD/BU.334.502.84
NYMEX HEATING OILUSD/GAL.291.102.31
ICE ECX EMISSIONSEUR/MT6.152.16
CME ETHANOLUSD/GAL.1.942.11
ICE GASOILUSD/MT898.751.67
CBOT WHEATUSD/BU.540.001.46
TOCOM CRUDE OILJPY/KL66970.001.22
ICE SUGAR #11USD/LB.17.141.00
CBOT SOYBEANSUSD/BU.1093.250.74
CRUDE OIL (BRENT)USD/BBL.107.960.67
TOCOM KEROSENEJPY/KL83320.000.65
ICE CANOLACAD/MT444.900.36
CBOT SOYBEAN MEALUSD/ST353.000.34
RBOB GASOLINEUSD/GAL.286.600.20
EURO SPOTEUR/T OZ.970.160.09
BRITISH POUND SPOTGBP/T OZ.767.510.05
TOCOM RUBBERJPY/KG203.000.00
CME LUMBERUSD/TBF325.50-0.12
JAPANESE YEN SPOTJPY/T OZ.132664.38-0.13
TOCOM GOLDJPY/G4267.00-0.14
PALLADIUM SPOTUSD/T OZ.877.75-0.41
COMEX GOLDUSD/T OZ.1305.60-0.41
GOLD SPOTUSD/T OZ.1303.16-0.59
EURO SPOTEUR/T OZ.15.33-0.65
CBOT SOYBEAN OILUSD/LB.36.45-0.74
BRITISH POUND SPOTGBP/T OZ.12.13-0.74
PLATINUM SPOTUSD/T OZ.1477.63-0.78
TOCOM SILVERJPY/G67.70-0.88
JAPANESE YEN SPOTJPY/T OZ.2096.31-0.89
CBOT CORNUSD/BU.375.00-0.92
INDIAN RUPEE SPOTINR/T OZ.78220.06-1.12
COMEX SILVERUSD/T OZ.20.64-1.20
US DOLLAR SPOTUSD/T OZ.20.59-1.34
CRUDE OIL (WTI)USD/BBL.101.59-1.49
CBOT ROUGH RICEUSD/CWT12.93-1.52
INDIAN RUPEE SPOTINR/T OZ.1236.12-1.84
ICE ORANGE JUICE CONCUSD/LB.148.25-2.85
ICE COTTON #2USD/LB.65.80-2.86
NYMEX NATURAL GASUSD/MMBTU3.77-4.56
CME LEAN HOGSUSD/LB.107.28-5.52

Weekly Bond Rates Performance Change in btps
countryyieldWk1m1y
AUSTRALIA3.44%7-10-34
SOUTH KOREA3.00%3-19-50
HONG KONG1.93%2-3-29
SINGAPORE2.24%2-6-23
UNITED STATES2.48%0-7-10
GERMANY1.15%0-12-52
BRITAIN2.57%0-7+24
JAPAN0.53%-1-3-25
FRANCE1.55%-2-15-73
NETHERLANDS1.34%-2-15-72
PORTUGAL3.62%-2+7-282
CANADA2.11%-5-13-33
BRAZIL (USD)3.96%-6-9-33
SPAIN2.53%-6-10-208
ITALY2.71%-7-12-169
MEXICO (USD)3.28%-8-4-53
NEW ZEALAND4.21%-8-19+1
INDIA8.67%-10-7+52
GREECE5.82%-310-414

Best and Worst in the  BRICSKST

 (MSCI Emerging Markets Index stocks only)

Turkey

source: Bloomberg

Brazil

source: Bloomberg

India

source: Bloomberg

China

source: Bloomberg

South Africa

Russia

South Korea

CRABSTICKS Group of Countries


Russia

  • US, European nations to levy coordinated sanctions on Russia
  • Finnish Prime Minister: New EU sanctions against Russia to take ...
  • IMF cuts Russia's GDP growth forecast
  • Uneven global recovery continues, says IMF
  • Recent Study: Sun Care in Russia (2014) - Market Sizes
  • EU, US stumped on reining in Putin
  • Russia's Crimean redevelopment quagmire
  • Why Sanctions Won't Tip $15 Billion of Russian Debt Payments


    China

  • China's President Xi Jinping arrests one of the country's most ...
  • Globetrotting Japanese Prime Minister Shinzo Abe seeks to outdo ...
  • How Will China's New Environmental Reforms Affect Growth?
  • China Investment Hits Record in 2Q
  • India's Chinese dream
  • China exports rise but doubts over growth linger on
  • Cost pressures may weigh down budget carriers
  • Grand Central: A Warning From Basel On China's Debt-Driven Growth


    South Africa

  • Presidential Summit of the Washington Fellowship for Young African ...
  • PM Narendra Modi's meetings with South African President, and ...
  • IMF slashes SA's growth forecast for this year
  • Investment in Road Infrastructure Will Unlock Economic Growth
  • Massive increase in SA smartphone purchases
  • Senator builds ties with African fellows
  • Govt to reduce budget deficit - Nene
  • Africa's 'Debt Market Euphoria' To Increase Before US Rates Hike


    Korea

  • Open Letter to the Korean President: 61 Years After Armistice ...
  • North Korea sent message of sympathy to Malaysia's prime minister ...
  • South Korea Plans $40 Billion Stimulus to Tackle Weakening Growth
  • Korea Investment looks overseas for growth
  • Bang for silver buck missing?
  • China's economy unlikely to keep up its Q2 growth in H2: report

  • Are the Reds in the Red?


    India

  • SCHWING Stetter India elects Anand Sundaresan as President of ...
  • Prime Minister Narendra Modi's Three Mantras for India's Farmers
  • Downgrade for global economic growth
  • Will Amazon.com (AMZN) Stock Be Helped By Increased India ...
  • Positive move
  • Ford India exports fuel 36% sales growth in June '14
  • India budget: revenue deficit seen at 2.9 pct of GDP in 2014/15
  • Debt MFs Exempted From New Tax For A Short Period


    Turkey

  • Turkey's Presidential Candidates Vie for Kurdish Vote
  • 'Women should not laugh in public,' says Turkey's Deputy Prime ...
  • A new journey

  • Surging turkey population gets counted in annual survey
  • Islamic State urges Turkish businessmen to return to Iraq

  • Litigation in Turkey -- debt collection, criminal proceedings, etc.


    Brazil

  • Gaza Strip Conflict 'A Massacre,' Says Brazil's President Rousseff
  • 6th BRICS summit in Brazil: Prime Minister Narendra Modi's statement
  • Brazil's economy: not as bad as it looked?
  • JPMorgan Brazil Investment Trust Underperforms And Cuts Dividend
  • Main battleground in Brazil election: Its biggest city
  • PM who doesn't fly without Gujarat in cabin baggage
  • Brazil's Budget Deficit in May Widest Since December 2008
  • UPDATE 1-Brazil repurchases $2 billion in costlier global bonds


    Australia

  • Afghan President Hamid Karzai's cousin killed by suicide bomber
  • Our economic dream run is over
  • Housing drives Australian growth as consumer confidence rises
  • Asia-Pacific's private wealth surges as region closes in on North ...
  • Signs property prices could stabilise
  • Time to milk dairy for all it's worth
  • Our economic dream run is over
  • Australia still goes all the way to a triple-A credit rating, despite ...


    Canada

  • Y&R Canada President and CEO Chris Jordan Resigns After 12 Years
  • Why is Canada Israel's new best friend?
  • IMF Lowers Canada Growth Forecast
  • Canada's Business Advantages Attracting Increased Inward ...
  • The closer you look, the weaker Canada's job market appears
  • Canada's Exports Come Roaring Back
  • Canada budget deficit shrinks in first two months of 2014/15
  • Canada's Federal Deficit Shrinks To $1.5 Billion In April-May

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