Adding to the gloom – Brazil. MSCI Brazil Index was down 14% (in USD) yesterday, Bovespa down 8% (in reais) while Ishares MSCI Brazil ETF finished 16% down yesterday in New York

Source: ML, Bloomberg

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Chart: Brazil Impeachment Adding to the gloom - Brazil. MSCI Brazil Index was down 14% (in USD) yesterday, Bovespa down 8% (in reais) while Ishares MSCI Brazil ETF finished 16% down yesterday in New York Source: ML, Bloomberg Download file in Power Point Comment Weekly performance is between 2017-05-18 and 2017-05-12 Best global markets week to date EUROPE +0.22%, EFM ASIA-0.06%, FM (FRONTIER MARKETS)-0.62%, While worst global markets week to date EM LATIN AMERICA -9.45%, EM (EMERGING MARKETS) -1.40%, USA -1.05%, Fundamentals kick in as US equities bounce back from Trump ... US equities recovered some ground Emerging markets have returned to form - time to buy? Leveraging Demographics in Emerging Markets (EMCG) China stocks set to end week flat amid regulation, economy woes Chinese Stocks Are Finding Favor, as Long as You're Not in China That big rotation to European stocks is starting to make a lot of sense European Equities in the Red as Inflation Rises Across the Region As Breakeven Prices Converge An Oil Price Crash Nears From Oil To Arms: Saudis Move Away From Crude US Steel Prices Fall in May, and This Might Just Be the Beginning GST: Coal in lowest tax slab, steel prices to be stable Trump 'Witchhunt' Sees Gold Price Pop $30 Below 'Game Changing ... Current Gold Price: Track current gold rate trends and news Best since the start of the week among various stock markets were ZIMBABWE +8.23%, AUSTRIA +4.85%, BULGARIA +3.71%, HUNGARY +3.16%, KENYA +2.10%, CZECH REPUBLIC +1.67%, KUWAIT +1.67%, SERBIA +1.62%, ROMANIA +1.49%, SLOVENIA +1.13%, While worst since the start of the week among various stock markets were BRAZIL -14.72%, ARGENTINA -3.52%, PAKISTAN -3.35%, PORTUGAL -2.91%, MEXICO -2.36%, JAMAICA -2.21%, CHILE -2.18%, ISRAEL -2.07%, KAZAKHSTAN -1.98%, LEBANON -1.96%