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February 17, 2017

Best 15 Markets Yesterday

CountryChangePct
ZIMBABWE5.12
EGYPT4.22
UKRAINE2.68
POLAND2.16
SLOVENIA1.60
DENMARK1.53
BULGARIA1.52
PHILIPPINES1.49
BOSNIA AND HERZEGOVINA1.45
SOUTH AFRICA1.30
AUSTRIA1.25
CROATIA1.24
ESTONIA1.15
FINLAND1.14
SWEDEN1.12

Worst 15 Markets Yesterday

CountryChangePct
ARGENTINA-2.00
BAHRAIN-1.86
NEW ZEALAND-1.70
PERU-0.99
JAMAICA-0.90
NIGERIA-0.63
ISRAEL-0.55
VIETNAM-0.53
SRI LANKA-0.45
TAIWAN-0.44
MALAYSIA-0.25
BRAZIL-0.25
HONG KONG-0.24
LEBANON-0.23
GHANA-0.22

Best 10 Markets YTD

CountryChangePct
KAZAKHSTAN28.31
ARGENTINA25.51
JAMAICA21.64
UKRAINE20.08
BRAZIL19.21
POLAND17.83
EGYPT16.24
BAHRAIN13.36
KUWAIT12.74
CHINA11.96

Worst 10 Markets YTD

CountryChangePct
NIGERIA-9.60
KENYA-8.60
GREECE-7.28
ZIMBABWE-7.07
GHANA-4.60
OMAN-2.41
FM AFRICA-1.77
ITALY-1.77
FM AFRICA-1.77
LEBANON-0.58

Best 10 Markets Last 12 months

CountryChangePct
BRAZIL108.61
RUSSIA60.04
PERU55.17
KAZAKHSTAN53.36
ZIMBABWE50.70
UKRAINE50.62
PAKISTAN42.63
HUNGARY41.88
CANADA34.63
COLOMBIA34.42

Worst 10 Markets Last 12 months

CountryChangePct
NIGERIA-33.87
GHANA-31.96
BOSNIA AND HERZEGOVINA-17.67
BOTSWANA-15.85
SLOVENIA-15.28
KENYA-12.81
ISRAEL-11.62
TUNISIA-9.80
TRINIDAD AND TOBAGO-7.83
FM AFRICA-6.72

Country USD Yields and Week Changes

CountryAverage YieldYield Average WkChange % pts
Mongolia8.280.34
Ecuador8.430.29
El Salvador9.330.27
Venezuela22.730.25
Ghana8.490.04
Sri Lanka6.020.03
United States0.780.00
Ukraine8.46-0.01
Slovak Republic2.64-0.01
Lithuania2.87-0.03
Romania3.99-0.04
Pakistan4.87-0.05
Russian Federation4.19-0.06
China3.05-0.07
Poland2.99-0.07
Kazakhstan4.62-0.07
Jamaica6.10-0.07
Azerbaijan5.17-0.07
Peru4.03-0.08
Paraguay5.93-0.08
Malaysia3.53-0.08
Vietnam4.64-0.09
Oman4.68-0.10
Trinidad and Tobago4.53-0.10
Kenya7.27-0.11
Hungary3.56-0.11
Costa Rica6.64-0.11
Morocco3.64-0.13
India4.01-0.13
Brazil5.04-0.13
Philippines3.24-0.15
Indonesia4.26-0.15
Mexico4.88-0.16
Croatia (Hrvatska)3.77-0.18
Chile3.16-0.18
Serbia3.93-0.18
Lebanon6.28-0.19
Tunisia6.46-0.19
Dominican Republic5.69-0.19
Panama3.46-0.20
Cote D'Ivoire (Ivory Coast)6.57-0.21
Iraq8.94-0.21
Uruguay4.44-0.21
Colombia3.97-0.21
South Africa4.71-0.21
Argentina6.46-0.22
Jordan6.21-0.23
Turkey5.39-0.34
Angola9.80-0.37
Gabon7.44-0.42
Egypt5.69-0.46
Ethiopia7.92-0.46
Zambia8.47-0.52

Chart: Backtesting of Our Portfolio Model

Difference in performance between longs and short by year

Source: ML

Download file in Power Point

Market Comment  Political & Economic News   Company Results and Dividends   Recent ML Reports  

Key Comment





Best since the start of the week among various stock markets were EGYPT +6.34%, ISRAEL +5.19%, BRAZIL +4.40%, ESTONIA +3.81%, BOTSWANA +3.79%, SOUTH AFRICA +3.69%, BAHRAIN +3.61%, MAURITIUS +3.23%, ZIMBABWE +3.01%, POLAND +2.82%,

While worst since the start of the week among various stock markets were JAMAICA -4.95%, NIGERIA -3.13%, PERU -2.90%, KENYA -1.40%, KAZAKHSTAN -1.14%, ARGENTINA -1.07%, COLOMBIA -1.05%, MEXICO -0.92%, BULGARIA -0.92%, SINGAPORE -0.52%,

News

Best 10 Market Since the begining of the week


EGYPT 6.34


  • Egypt's President Clashes With Islamic Powers Over Egypt's Divorce ...
  • Procedures package to expand social safety net: Prime Minister ...
  • Recent reform measures, declining growth in neighbouring markets ...
  • Economic reforms to give Egypt an investment lift - Daily News Egypt
  • Analysts: Population control will not solve Egypt's increasing poverty ...
  • Growth rate of Egypt's exports reaches 7.4% in 2016
  • Egypt sees budget deficit of 5pct in Jul-Dec of 2016/17, targets 10pct ...
  • Foreign Purchases of Local Egypt Debt May Reach $11 Billion
    Econ events
    momenteventForecastConsensus
    2017-02-16Interest Rate Decision 0.1475
    2017-02-16Overnight Lending Rate 0.1575

    Companies Reported Yesterday Include:
    CompanyCountrySectorReported
    Global Telecom Holding SAEEGYPTTelecommunication Services2/16/2017

    ISRAEL 5.19


  • Israel should annex West Bank & give Palestinians full citizenship ...
  • Israeli Prime Minister Benjamin Netanyahu's visit with Trump faces ...
  • IMF Report: Israel Enjoying Solid Economic Growth, Low ...
  • Economic Growth Council heads for Israel on investment mission
  • Growth rate steady as Israel's population reaches 8.58 million
  • Israel's Globalized Economy Sets New Records
  • Israel cabinet approves two-year draft budget aimed at boosting ...
  • Israel's debt-to-GDP ratio falls
    Econ events
    momenteventForecastConsensus
    2017-02-16GDP Growth Rate QoQ 1st Est Q40.012
    2017-02-16Money Supply M1 YoY JAN
    2017-02-16GDP Growth Annualized 1st Est Q40.039

    BRAZIL 4.40


  • Brazil's Two Largest Newspapers Forced by President and Judge to ...
  • Brazil's Temer denies shielding minister from corruption case
  • How Oil and Primary Exports Impact Brazil's Economic Fortunes
  • BRAZIL'S INVESTMENT IN FOREIGN TOURISM PAYS OFF IN THE ...
  • Half of Brazil's population lack full property rights, govt says
  • Macri,Temer look to improve trade in midst of 24-year low
  • Brazil Budget Gap Widens More Than Forecast as Revenue Falls
  • As Brazil Debt Mounts, What's Next?
    Econ events
    momenteventForecastConsensus
    2017-02-16IBC-BR Economic Activity DEC0

    Companies Reported Yesterday Include:
    CompanyCountrySectorReported
    Banco do Brasil SABRAZILFinancials2/16/2017
    Braskem SABRAZILMaterials2/16/2017
    Raia Drogasil SABRAZILConsumer Staples2/16/2017

    Companies that will report Today:
    CompanyCountrySectorReported
    BM&FBovespa SA - Bolsa de Valores Mercadorias e FuturosBRAZILFinancials2/17/2017
    Hypermarcas SABRAZILConsumer Staples2/17/2017
    Usinas Siderurgicas de Minas Gerais SABRAZILMaterials2/17/2017

    ESTONIA 3.81


  • Ex-Estonian President Toomas Ilves Financed Posh Life on Country ...
  • European Union and US must maintain 'common understanding ...
  • Coface upgrades Estonia's country risk assessment, leaves ...
  • Nordic meat company to invest in Estonia
  • Nervous in Narva: a town caught between East and West
  • Estonia`s exports and imports increased in November
  • Estonia passes 2017 record level budget spending to bolster defense
  • Estonia reports smallest government debt in EU in Q3

    BOTSWANA 3.79


  • David Oyelowo visited by Botswana president during film shoot
  • David Oyelowo visited by Botswana president during film shoot
  • Botswana's growth to almost double as commodity sales rebound
  • Thumps up to the budget
  • Gaolathe,Matambo in clash of ideas
  • Botswana seeks increased trade with Zim
  • Botswana's budget deficit to widen to 1.4 pct of GDP in 2017/18
  • Shrenuj Nears Debt Deal to Ease Liquidity Crisis

    SOUTH AFRICA 3.69


  • Trump calls presidents of Nigeria, South Africa
  • The Trumps land in Washington after a weekend of golf diplomacy ...
  • South Africa Economic Growth reliant on EU Trade relations
  • Here Are South Africa's Woes in Four Charts
  • These 30 economies will be the most powerful in the world by 2030 ...
  • South Africa: Minister Edna Molewa - International Cooperation ...
  • FG, states spend 4.3% of N13.5tr budgets on health
  • Here Are South Africa's Woes in Four Charts
    Companies Reported Yesterday Include:
    CompanyCountrySectorReported
    Gold Fields LtdSOUTH AFRICAMaterials2/16/2017
    Truworths International LtdSOUTH AFRICAConsumer Discretionary2/16/2017
    Woolworths Holdings Ltd/South AfricaSOUTH AFRICAConsumer Discretionary2/16/2017

    BAHRAIN 3.61


  • King, Turkish president hold talks; agreements signed
  • Office of the First Deputy Prime Minister participates in National ...
  • Islamic Finance as a key pillar on economic growth
  • Bahrain Bourse, Tamkeen discuss developments of BIM
  • Iranian-Saudi tensions are played out in Bahrain
  • 'Indian merchandise exports to 6 Gulf countries down 18.7% in 2015 ...
  • Sewage tax plan to bridge Bahrain's budget deficit
  • Moody's cuts Saudi, Oman, Bahrain debt ratings

    MAURITIUS 3.23


  • Mauritius: Science, Technology and Innovation Cannot Be ...
  • Mauritius Prime Minister Hands Over Office to His Son
  • Mauritius: Science, Technology and Innovation Cannot Be ...
  • BSE IPO Analysis
  • Mauritius population is the richest in Africa, Zimbabweans poorest ...
  • Accords commerciaux: Maurice reste confiante malgré le ...
  • Mauritius: Budget 2016-2017 Targets Major Public Sector Reform ...
  • India, Cyprus agree to new tax treaty: Here's how it clears ...

    ZIMBABWE 3.01


  • $2.5 million set for Zimbabwe President Robert Mugabe's 93rd ...
  • Aussie coal row has lesson for Harare
  • RBZ projects 1,7pc economic growth rebound
  • Businesses cry foul over 'bad' laws
  • Pressure group to engage political parties on biometric voting system
  • Industry players urged to tap into rich DRC
  • Zimbabwe budget can surpass $10 billion
  • Final demand: Zimbabwe's debt defaulters

    POLAND 2.82


  • Polish President congratulates German President-elect
  • Poland's prime minister is staying in hospital for several days after ...
  • Poland may be fastest-growing large economy in EU by 2050: report
  • Positive 2017 outlook for CEE Real Estate Markets but yield levels to ...
  • Poland: A Land Without Strangers
  • Polish 2015 GDP overestimated due to tax scams - finance minister
  • Poland - Factors to Watch Jan 25
  • beyondbrics
    Econ events
    momenteventForecastConsensus
    2017-02-16Employment Growth YoY JAN0.03
    2017-02-16Corporate Sector Wages YoY JAN0.0363

    Worst 10 Market Since Begining of the Week


    JAMAICA -4.95


  • Jamaica Securities Dealers Association gets new president
  • Prime Minister Urges Jamaicans to Plan for Retirement
  • Tourism Pivotal to Economic Growth – Min. Bartlett
  • A Jamaica BPO Exec Sees Major Momentum Support by the ...
  • Light on violence | 'We pass on the gene to effect war'
  • Going for growth — the IMF's insidious agenda
  • Fitch: Jamaica Budget Shows Broad Fiscal Policy Continuity
  • Government Presents Budget of $710 Billion for 2017-18

    NIGERIA -3.13


  • Trump Speaks With Nigeria's President, Who Hasn't Been Seen in ...
  • Akure traditional Prime Minister, 2 others die in Abuja auto crash
  • We need credible budget to stimulate economic growth, says Saraki
  • Zenith Bank leads the way for Nigeria
  • Exploring Nigeria's population for national prosperity
  • Nigeria Exports Two Million Jobs To China With The Textile Industry ...
  • Nigeria: Budget Funding - Govt Set to Borrow Another N110 Billion ...
  • Nigeria's Economy In The Light Of DMO's Interventions

    PERU -2.90


  • Mobile Connections Continue to Rebound in Peru
  • Readout of the President's Call with President Pedro Pablo ...
  • Prime Minister: We need to clean Peru from corruption
  • UPDATE 1-Peru sees much weaker economic growth in 2017 on ...
  • Peru: Investment in infrastructure to amount US$6.553 billion thru ...
  • Mobile Connections Continue to Rebound in Peru
  • Peru's exports to the US increased 30% thanks to FTA
  • Mooers super expects drop in town taxes
  • Fraud Charges In Peru Surround Two Very Different Bond Ratings

    KENYA -1.40


  • We are optimistic Kenyan exports to Slovakia will increase, says ...
  • Former Somali PM Mohamed Abdullahi Farmajo elected president
  • Why Kenya's economic data matters to Wanjiku
  • Kenyan SME's flourish as e-commerce spikes
  • Kenya: Why Kenya Must Create a Million New Jobs Annually
  • Kenya's royalties up with high ore prices
  • Kenya: Budget Day to Come Early As Polls Beckon
  • IMF gives Kenya's debt level clean bill of health

    KAZAKHSTAN -1.14


  • Kazakhstan: President Unveils Plans to Relinquish Powers
  • Jailed Former Kazakh Prime Minister's Prison Term Shortened
  • 2017 Economic Growth in Kazakhstan Forecast at
  • Kazakhstan: Investment in agriculture increased by 50% in 2016
  • Central Asia's Population Growth
  • Zinc Production Reached 325500 Tonnes in 2016
  • Finance Ministry: Azerbaijani GDP to grow in 2017
  • Kazakhstan's Debt Focus Turns Domestic as Bond Buyback an Option

    ARGENTINA -1.07


  • Readout of the Vice President's Call with President Mauricio Macri of ...
  • British Foreign Secretary to visit Argentina
  • Argentina's credit revival offers glimpse of economic stability
  • Argentina Investment Conference 2016
  • Smartphone Uptake Is on the Rise in Argentina
  • What to expect when the presidents of Brazil and Argentina meet
  • UPDATE 1-Argentina beats 2016 fiscal goal with deficit of 4.6 pct of ...
  • Argentina's debt bonanza buys time, raises risks
    Econ events
    momenteventForecastConsensus
    2017-02-16Retail Sales YoY DEC0.15

    COLOMBIA -1.05


  • Readout of the President's Call with President Juan Manuel Santos ...
  • Marlin expected back from Colombia today
  • Colombia's economic growth for 2017 projected at 2.5%: World Bank
  • Congress Approves Controversial Tax Reform to Shore Up Budget ...
  • Empowering a New Generation of Farmers
  • Maersk Sees Colombia's Infrastructure, Ports, and New Markets ...
  • The Daily Shot: Make Sense of Tuesday's Markets in 57 Charts
  • Colombia's debt head says fiscal reforms on track
    Companies Reported Yesterday Include:
    CompanyCountrySectorReported
    Bancolombia SACOLOMBIAFinancials2/16/2017
    Bancolombia SACOLOMBIAFinancials2/16/2017

    MEXICO -0.92


  • Marchers across Mexico vent anger over Trump, and their own ...
  • Trump soft pedals NAFTA criticism with Canadian PM, says Mexico ...
  • Mexico's economic growth slows in fourth-quarter as service sector ...
  • business briefing
  • Hyman on Trump: Policies Mean Fair Trade, Not Trade War
  • Trump's talk of tax on Mexico exports causing concern in Asia
  • Moody's says New Mexico budget woes weakens school finances
  • Mexico Debt Outlook Negative, S&P Says
    Companies Reported Yesterday Include:
    CompanyCountrySectorReported
    Bolsa Mexicana de Valores SAB de CVMEXICOFinancials2/16/2017
    Fibra Uno Administracion SA de CVMEXICOReal Estate2/16/2017

    BULGARIA -0.92


  • Bulgarian President 'to Receive Friends of Israel Award'
  • Ognyan Gerdjikov, caretaker prime minister: Bulgaria should appoint ...
  • EC affirms Bulgaria 2017 GDP growth fcast at 2.9% - table
  • German-style 'grand' coalition looks unlikely in Bulgaria
  • Telenor Bulgaria's EBITDA edges up in 2016
  • Bulgaria's GDP to grow 2.8% in 2017 - Euler Hermes
  • Bulgaria ends 2016 with budget surplus of 1.6 pct/gdp
  • Bulgaria's Debt Grows by EUR 2.1238 in 2016

    SINGAPORE -0.52


  • Give elected presidency chance to develop: Yaacob Ibrahim
  • Singapore leaders celebrate Prime Minister Lee Hsien Loong's ...
  • Singapore advisory panel eyes new drivers of economic growth
  • R Seshasayee, Vishal Sikka play down Infosys dispute, defend ...
  • Singapore population rises 1.3% to 5.61 million
  • Singapore exports jump on solid China sales, Trump factor a worry
  • Singapore's budget 'likely to detail ways to spur innovation, boost ...
  • Bank bonuses for Singapore debt sales raise conflict concerns
    Econ events
    momenteventForecastConsensus
    2017-02-17GDP Growth Rate QoQ Final Q40.0890.091
    2017-02-17GDP Growth Rate YoY Final Q40.0170.018

    Companies that will report Today:
    CompanyCountrySectorReported
    CapitaLand LtdSINGAPOREReal Estate2/17/2017

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