May 12, 2017

Best 15 Markets Yesterday

Country	ChangePct
NIGERIA	3.17
KOREA	1.83
SLOVENIA	1.48
KENYA	1.44
TUNISIA	1.37
QATAR DOMESTIC	1.35
QATAR	1.30
GREECE	1.25
KUWAIT	1.10
PERU	1.09
SERBIA	0.95
JORDAN	0.91
COLOMBIA	0.87
UNITED ARAB EMIRATES	0.79
ARGENTINA	0.76

Worst 15 Markets Yesterday

Country	ChangePct
LITHUANIA	-2.96
SPAIN	-1.67
ESTONIA	-1.40
TURKEY	-1.31
BULGARIA	-1.25
KAZAKHSTAN	-0.99
NEW ZEALAND	-0.93
MEXICO	-0.88
POLAND	-0.87
CANADA	-0.81
GERMANY	-0.73
SAUDI ARABIA DOMESTIC	-0.65
BELGIUM	-0.57
UNITED KINGDOM	-0.56
BOSNIA AND HERZEGOVINA	-0.52

Best 10 Markets YTD

Country	ChangePct
ARGENTINA	42.29
JAMAICA	32.36
POLAND	30.58
KAZAKHSTAN	27.44
KOREA	24.44
GREECE	22.86
ROMANIA	20.89
INDIA	20.58
SPAIN	20.49
AUSTRIA	20.22

Worst 10 Markets YTD

Country	ChangePct
OMAN	-11.30
RUSSIA	-6.28
LEBANON	-5.86
SAUDI ARABIA DOMESTIC	-3.86
QATAR DOMESTIC	-2.53
QATAR	-2.44
TUNISIA	-1.87
TRINIDAD AND TOBAGO	-1.30
JORDAN	-1.18
CANADA	-0.63

Best 10 Markets Last 12 months

Country	ChangePct
KAZAKHSTAN	53.39
JAMAICA	52.62
BULGARIA	38.91
TAIWAN	36.88
AUSTRIA	36.22
BRAZIL	34.84
KOREA	31.41
PAKISTAN	28.94
POLAND	28.87
ARGENTINA	28.85

Worst 10 Markets Last 12 months

Country	ChangePct
NIGERIA	-24.14
BOTSWANA	-20.20
TUNISIA	-19.32
BOSNIA AND HERZEGOVINA	-15.64
GHANA	-15.12
SLOVENIA	-13.80
OMAN	-11.99
EGYPT	-10.76
ISRAEL	-10.50
ESTONIA	-7.73

Country USD Yields and Week Changes

Country	Average Yield	Yield Average WkChange % pts
Venezuela	25.54	1.67
Ecuador	8.81	0.17
Iraq	8.05	0.14
Turkey	5.01	0.10
Brazil	4.85	0.10
Colombia	4.15	0.09
Ghana	8.33	0.08
Oman	4.68	0.08
Argentina	6.36	0.08
Chile	2.99	0.08
Dominican Republic	5.29	0.07
Egypt	5.99	0.07
Uruguay	4.35	0.06
Angola	8.76	0.06
Malaysia	3.48	0.06
Russian Federation	3.97	0.06
Serbia	3.48	0.05
China	3.05	0.05
Bolivia	4.88	0.05
India	3.91	0.05
Croatia (Hrvatska)	3.61	0.04
Peru	3.88	0.04
Cote D'Ivoire (Ivory Coast)	6.35	0.03
Morocco	3.43	0.03
Lebanon	5.85	0.03
South Africa	4.97	0.03
Costa Rica	6.14	0.03
Hungary	3.34	0.02
Nigeria	6.98	0.02
Zambia	7.80	0.02
Panama	3.33	0.02
Romania	3.62	0.02
Philippines	3.29	0.01
Pakistan	5.07	0.01
Kazakhstan	4.47	0.01
Lithuania	2.50	0.00
Indonesia	4.08	0.00
Kenya	6.67	0.00
Mexico	4.54	-0.01
United States	0.99	-0.01
Slovak Republic	2.46	-0.01
Poland	2.74	-0.01
Paraguay	5.54	-0.02
Tunisia	6.04	-0.02
Jordan	5.89	-0.03
Azerbaijan	4.87	-0.03
Vietnam	4.31	-0.04
El Salvador	8.60	-0.05
Jamaica	5.84	-0.06
Gabon	6.71	-0.07
Trinidad and Tobago	4.80	-0.14
Ukraine	7.94	-0.15
Sri Lanka	5.09	-0.19
Mongolia	5.95	-0.19
Ethiopia	6.56	-0.32

Chart: Betting on European Election - Choose DAX

DAX has been a much better election trade. CAC was not bad, and S&P was quite lousy even betting on US election

Source: ML

Download file in Power Point

Comment

Weekly performance is between 2017-05-11 and 2017-05-05

Best global markets last week EFM ASIA +2.38%, EM (EMERGING MARKETS) +2.26%, EM LATIN AMERICA +2.26%,

While worst global markets last week EUROPE -1.08%, USA -0.26%, FM (FRONTIER MARKETS) 1.34%,

Gundlach: European, EM equities more attractive than US

Gundlach: Ditch U.S. Equities for Emerging Markets

Why the emerging markets rally may just be emerging

Peak emerging markets heave into view

Chinese Stocks Up For Second Day Ahead Of Beijing Summit

China Stocks Are Tumbling Again. Unlike 2015, World Doesn't Care

3 Undervalued European Stocks

Commodities Could Be Achilles Heel for European Equity Rally

Oil price climbs as Opec offers early consensus on renewed deal

Why Goldman Thinks You Should Go Long On Oil

Steel Price Forecast, April 2017: US Steel to Invest in Plants

Toe-to-Toe: Ten years of oil and steel price patterns

Gold rate today: Track Gold price in India and market outlook

Gold Price Chart: Find all the latest gold rate chart and news

Best since the start of the week among various stock markets were NIGERIA +9.33%, GREECE +4.63%, PAKISTAN +4.47%, COLOMBIA +3.56%, BOTSWANA +3.52%, PERU +3.49%, MAURITIUS +3.48%, BRAZIL +3.40%, CHINA +3.29%, KOREA +3.03%,

While worst since the start of the week among various stock markets were SPAIN -3.78%, LITHUANIA -3.72%, FRANCE -2.03%, POLAND -1.96%, UKRAINE -1.94%, IRELAND -1.85%, ESTONIA -1.70%, BELGIUM -1.67%, DENMARK -1.62%, BOSNIA AND HERZEGOVINA -1.60%,

moment	event	Forecast	Consensus
2017-05-11	Unemployment Rate FEB	0.234
2017-05-15	GDP Growth Rate YoY Prel Q1	-0.002
2017-05-15	GDP Growth Rate QoQ Prel Q1	-0.004

Company	Country	Sector	Reported
Cementos Argos SA	COLOMBIA	Materials	5/11/2017
Ecopetrol SA	COLOMBIA	Energy	5/11/2017
Interconexion Electrica SA ESP	COLOMBIA	Utilities	5/11/2017

Betting on European Election - Choose DAX Download file in Power Point	Russian carry trade - does it all stops here? Download file in Power Point	Gold funds inflows slow down… Will the gold price follow? Download file in Power Point
Czech, Russia, Poland and Egypt equities are way off their pre-Lehman highs.. Download file in Power Point	Emerging Market Currencies vs. USD in April are softer. Download file in Power Point	Russia Dedicated Fund Flow Turns More Positive Download file in Power Point
Iraq, Venezuela, Angola and probably Russia yields Download file in Power Point	Emerging Markets Investors Are Cautious – Download file in Power Point	Quant funds inflows still in the negative Download file in Power Point

moment	event	Forecast	Consensus
2017-05-12	Retail Sales YoY MAR	-0.024
2017-05-12	Industrial Production YoY MAR	-0.003

moment	event	Forecast	Consensus
2017-05-11	Retail Sales YoY MAR	-0.025
2017-05-11	Retail Sales MoM MAR	-0.001
2017-05-12	IBC-BR Economic Activity MAR	0.006

Company	Country	Sector	Reported
Banco do Brasil SA	BRAZIL	Financials	5/11/2017
BRF SA	BRAZIL	Consumer Staples	5/11/2017
CCR SA	BRAZIL	Industrials	5/11/2017
CETIP SA - Mercados Organizados	BRAZIL	Financials	5/11/2017
Cyrela Brazil Realty SA Empreendimentos e Participacoes	BRAZIL	Consumer Discretionary	5/11/2017
Lojas Americanas SA	BRAZIL	Consumer Discretionary	5/11/2017
Lojas Americanas SA	BRAZIL	Consumer Discretionary	5/11/2017
MRV Engenharia e Participacoes SA	BRAZIL	Consumer Discretionary	5/11/2017
Petroleo Brasileiro SA	BRAZIL	Energy	5/11/2017
Petroleo Brasileiro SA	BRAZIL	Energy	5/11/2017
Qualicorp SA	BRAZIL	Health Care	5/11/2017

Company	Country	Sector	Reported
Bradespar SA	BRAZIL	Materials	5/12/2017
BM&FBovespa SA - Bolsa de Valores Mercadorias e Futuros	BRAZIL	Financials	5/12/2017
Cia Energetica de Sao Paulo	BRAZIL	Utilities	5/12/2017
Centrais Eletricas Brasileiras SA	BRAZIL	Utilities	5/12/2017
Centrais Eletricas Brasileiras SA	BRAZIL	Utilities	5/12/2017
Kroton Educacional SA	BRAZIL	Consumer Discretionary	5/12/2017
Cia de Saneamento Basico do Estado de Sao Paulo	BRAZIL	Utilities	5/12/2017