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May 19, 2017

Best 15 Markets Yesterday

CountryChangePct
ZIMBABWE2.04
KENYA1.79
NIGERIA0.99
MOROCCO0.98
BAHRAIN0.90
HUNGARY0.62
INDONESIA0.46
DENMARK0.39
USA0.37
GHANA0.32
BANGLADESH0.18
CANADA0.16
BULGARIA0.11
SERBIA0.08
SAUDI ARABIA DOMESTIC-0.02

Worst 15 Markets Yesterday

CountryChangePct
BRAZIL-14.66
ARGENTINA-3.85
NORWAY-2.59
CHILE-2.48
RUSSIA-2.43
INDIA-2.39
PORTUGAL-2.34
BELGIUM-2.32
KAZAKHSTAN-2.24
JAMAICA-2.13
TURKEY-2.04
COLOMBIA-2.00
PAKISTAN-1.86
MEXICO-1.80
BOTSWANA-1.33

Best 10 Markets YTD

CountryChangePct
ARGENTINA36.84
POLAND29.76
JAMAICA29.18
AUSTRIA26.79
KOREA24.65
ROMANIA23.68
KAZAKHSTAN23.25
GREECE22.50
SPAIN21.08
TURKEY18.93

Worst 10 Markets YTD

CountryChangePct
OMAN-11.99
RUSSIA-8.61
LEBANON-8.40
SAUDI ARABIA DOMESTIC-2.96
TUNISIA-2.94
QATAR-2.64
QATAR DOMESTIC-2.48
TRINIDAD AND TOBAGO-1.92
CANADA-1.86
JORDAN-1.41

Best 10 Markets Last 12 months

CountryChangePct
JAMAICA48.50
AUSTRIA46.47
BULGARIA46.35
KAZAKHSTAN39.81
TAIWAN35.80
KOREA35.69
ZIMBABWE33.41
HUNGARY31.87
CHINA30.32
ARGENTINA28.09

Worst 10 Markets Last 12 months

CountryChangePct
NIGERIA-27.75
TUNISIA-19.02
BOTSWANA-18.04
GHANA-15.16
EGYPT-14.48
OMAN-12.33
SLOVENIA-10.74
ISRAEL-9.72
BOSNIA AND HERZEGOVINA-9.58
ESTONIA-4.99

Country USD Yields and Week Changes

CountryAverage YieldYield Average WkChange % pts
Bolivia4.960.08
Tunisia6.100.06
Indonesia4.120.05
Costa Rica6.180.03
Philippines3.310.02
Ethiopia6.580.02
Turkey5.070.02
Sri Lanka5.290.01
Lebanon6.050.01
Jordan5.870.01
Dominican Republic5.300.01
Poland2.740.00
Slovak Republic2.460.00
United States0.990.00
Panama3.530.00
Egypt5.99-0.01
Malaysia3.47-0.01
Hungary3.33-0.01
Lithuania2.49-0.01
Paraguay5.53-0.01
Vietnam4.30-0.01
India3.90-0.01
China3.05-0.01
Chile2.98-0.01
Romania3.60-0.02
Cote D'Ivoire (Ivory Coast)6.33-0.02
Morocco3.41-0.02
Pakistan5.05-0.02
Jamaica5.81-0.02
Trinidad and Tobago4.77-0.03
Mongolia5.92-0.03
Croatia (Hrvatska)3.58-0.03
Oman4.64-0.03
Serbia3.45-0.03
Russian Federation3.93-0.04
Uruguay4.31-0.04
Peru3.84-0.04
Mexico4.50-0.04
Colombia4.10-0.05
Argentina6.30-0.06
Azerbaijan4.81-0.06
South Africa4.91-0.06
Kazakhstan4.58-0.07
Zambia7.73-0.07
Brazil4.78-0.08
Nigeria6.89-0.09
El Salvador8.49-0.11
Kenya6.56-0.11
Angola8.64-0.12
Ecuador8.66-0.15
Gabon6.56-0.15
Ghana8.15-0.18
Iraq7.81-0.24
Ukraine7.65-0.29
Venezuela24.96-0.58

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%,

    News

    Best 10 Market Since the begining of the week


    ZIMBABWE 8.23


  • Mnangagwa to be Zimbabwe President until 21 August 2018
  • Mnangagwa to be Zimbabwe President until 21 August 2018
  • Zimbabwe: Agric, Mining to Drive Economic Growth - IMF
  • Allocations along Zim-Asset lines hailed
  • Female electorate fenced out of party structures
  • Zim-Namibia seal economic pact
  • Retention funds cost Zim millions
  • Zimbabwe's Debt Clearance Strategy Questioned

    AUSTRIA 4.85


  • Austrian President calls on all women to wear headscarves in ...
  • Poland's Prime Minister says country will accept no refugees as EU ...
  • Tracking how many key positions Trump has filled so far
  • Austria: Mining, Minerals and Fuel Resources
  • Growing immigration will 'keep Austria young'
  • Austria aims to boost wine exports
  • Fitch Affirms Sovereign Ratings Of Austria & Portugal
  • The Dawn of the Ultra-Long Bond

    BULGARIA 3.71


  • President Rumen Radev: 'Bulgaria to Continue Support For its Large ...
  • Bulgarian PM Borissov on 'Nazi salute' photo scandal: 'It's human ...
  • Bulgaria records 0.8% economic growth in Q1 2017 – flash estimate
  • Bulgaria Posts 46.4% Drop in FDI in Jan-Nov 2016
  • Telenor Bulgaria boosts mobile data usage in Q1
  • Bulgaria's Exports Grew 4% in 2015 - Final Data
  • Bulgaria expects Jan-April fiscal surplus to shrink to 1.6 pct
  • Bulgaria's Debt Grows by EUR 2.1238 in 2016

    HUNGARY 3.16


  • Hungarian university president: 'I need the support of Europe'
  • MEPs slam Hungary, call on EU to explore sanctions
  • IMF welcomes Hungaryʼs economic performance, but calls for reforms
  • Hungary aims for bigger role in Belt and Road Initiative
  • Hungary: Population Movement - Emergency Appeal n° MDRHU004 ...
  • Hungary lags far behind CEE peers in terms of growth
  • Hungary may revise 2017 budget in light of March deficit - minister
  • Energy analyst: New nuclear reactors will heavily increase ...

    KENYA 2.10


  • Kenya president urges rebalance of China-Africa trade
  • Uhuru returns from UK, China visit
  • Kenya needs 2M low-income homes for economic growth, says ...
  • East Africa leads continental growth in 2016
  • Questions continue to be asked about ongoing food crisis
  • Kenya: Agoa Doubts Cut Kenya Exports to US By 12%
  • Dual cam, premuim specifications on a budget phone
  • How pension funds can help relieve Kenya's debt burden

    CZECH REPUBLIC 1.67


  • Controversial Czech President jokes 'there are too many journalists ...
  • Czech PM accepts new finance minister ending crisis
  • Bright GDP growth figures from Eastern Europe
  • Czech politicians take aim at banks
  • Právo: Czechs want to live long, but not to age
  • Seat increases sales by 10% and production at its Greater ...
  • UPDATE 1-Czech PM's party puts bank tax back on election menu
  • Czech Parliament Approves Armenian Genocide Resolution

    KUWAIT 1.67


  • Liberia: President Sirleaf Receives Letters of Credence of New ...
  • MPs set to grill prime minister
  • EQUATE receives recognition from UN, Kuwait's SCPD – Company ...
  • BRIEF-Kuwait Investment Authority postpones sale of stake in ...
  • Kuwait population rises to 4.33 mln
  • Beximco in milestone achievement with Kuwait exports
  • Kuwait '35 vision tangible strides, clear reforms to build ...
  • Kuwait marketing 5, 10-year US dollar benchmark bonds - lead

    SERBIA 1.62


  • Serbia president arrives in Belarus on working visit
  • Bookies Favour Dacic as Serbia's New Prime Minister
  • EC raises Serbia 2017 GDP growth fcast on increasing domestic ...
  • Exclusive Interview: Dragana Djurica, Senior Expert for ...
  • Russian-Serbian Humanitarian Center marks 5th anniversary
  • Prime Minister: Serbia to Invest Some Budget Savings in Defense ...
  • Serbian PM expects no budget deficit at end-April
  • Vucic, Putin to discuss Serbia's debt for gas

    ROMANIA 1.49


  • Media: Two of US President Donald Trump's sons came to Romania
  • Romania ready to start OECD membership talks - PM
  • Romania champions EU economic growth in Q1
  • CRF Health: Romania investment part of growth strategy
  • Romania's population drops by two million in ten years
  • Romania's exports and imports accelerate in March to new record ...
  • Romania budget revenues down 5.7 pct in January 2017
  • CEE MARKETS-Bucharest stocks hit 9-year high, Hungary lifts bond ...

    SLOVENIA 1.13


  • Croatia Quizzes Slovenia Over Thompson Concert Ban
  • Croatia Quizzes Slovenia Over Thompson Concert Ban
  • Slovenia wishes to become major logistic hub of Belt and Road ...
  • Lower EU funds could be felt by CEE, due to Brexit, but pain could ...
  • Balkan countries unite in a war on waste
  • Slovenia March export growth at six-year-high, slowdown seen in H2
  • Good news on fiscal front for 2016 in CEE, apart from Romania
  • EEMEA MIDDAY: EM hits bump in the road

    Worst 10 Market Since Begining of the Week


    BRAZIL -14.72


  • Brazil president Temer vows not to resign as court approves ...
  • Daily briefing: Trump witch-hunt; Nafta talks; Brazil shock
  • Brazil Optimistic Despite Decline of UN Economic Forecast
  • Brazil infra sector set to benefit from PPI investment program
  • Reforms end three years of turmoil and recession in Brazil
  • GM and Toyota to boost Brazil exports
  • Brazil could raise up to $1 billion in debt renegotiation: sources
  • Brazil Bonds: Take Some Profits, Invesco Says
    Ex Div Stocks Today:
    CompanyCountrySectorReported
    Cia Brasileira de DistribuicaoBRAZILConsumer Staples5/19/2017

    ARGENTINA -3.52


  • Carlos Tevez has lunch with Argentina President Mauricio Macri in ...
  • Argentina's Macri Arrives in Japan on Two-Day Visit
  • The Myth of Argentina's Failure
  • The Rohatyn Group Invests in Argentina's Eco Minera
  • A third of Argentina's population live in poverty, according to the ...
  • Viña Concha y Toro SA: 17 /05/2017 - Viña Concha y Toro ...
  • UPDATE 1-Argentina beats 2016 fiscal goal with deficit of 4.6 pct of ...
  • Martin Wolf: Argentina's debt dispute must not be repeated
    Econ events
    momenteventForecastConsensus
    2017-05-18Retail Sales YoY MAR0.1658

    PAKISTAN -3.35


  • Government committed to provide affordable healthcare: President
  • Hong Kong police on high alert as Pakistan prime minister visits city ...
  • Pakistan economy surpasses $300 billion: Report
  • PM touts Pakistan's investment prospects to Hong Kong forum
  • Pakistanis, on average, earn $1629 a year
  • Govt to miss exports, imports, CAD targets
  • Budget deficit likely to go up further
  • Is Pakistan's debt really a problem?

    PORTUGAL -2.91


  • Portugal's leaders celebrate historic Eurovision Song Contest victory
  • Portuguese Prime Minister babysits after declaring national holiday ...
  • Portugal's winning streak continues with strong Q1 economic growth
  • DBRS maintains Portugal's investment grade rating with stable outlook
  • Sustained growth for Portuguese festival market
  • Textile, clothing exports up 5%, beating 2020 sector target of €5bn
  • Portugal raises wages and keeps deficit low
  • Portugal debt agency official says worried about liquidity, QE exit
    Econ events
    momenteventForecastConsensus
    2017-05-18Current Account MARˆ 360.9M

    MEXICO -2.36


  • Mexico president heads to Guatemala to discuss migration, extradition
  • Mexican foreign minister: 'We are ready' to rework NAFTA
  • Economists upgrade Mexico growth prospects despite Nafta furore
  • The End of Globalisation?
  • Beijing Has Lifted its One-Child Policy, But More Working Chinese ...
  • Gas Producers Slow To Put Pedal To Production
  • Reluctant Lawmakers Set Sights on Fix for New Mexico Budget
  • Mexico Debt Outlook Still Negative, Fitch Says
    Econ events
    momenteventForecastConsensus
    2017-05-18Interest Rate Decision 0.0675

    JAMAICA -2.21


  • President of NWC Outlines Challenges
  • Prime Minister Tours Affected Parishes
  • Jamaica's Economic Reform and Growth: Interview with Nigel Clarke
  • Mark Ricketts | Jamaica's next level of growth
  • Growing old and beautiful
  • Jamaica rum exports projected to grow
  • Property tax: what's the problem?
  • Jamaica debt ratio falls to 120% of GDP

    CHILE -2.18


  • Chile Ex-President Sebastian Piñera Declares a $600m Fortune
  • Minister Duclos to visit Argentina and Chile to discuss poverty ...
  • Digital banking propels Chile's economic growth
  • Copper Won't Lead Chile's Investment Recovery
  • Americas' Poor Turn South as Trump Looks to Block the Road North
  • Defence of Right to Water Drives Call for Land Reform in Chile
  • Chile Puts Its Reputation Above Stimulus in 2017 Budget
  • Anti-Torture Law Helps Pay Off Chile's Debt to Human Rights
    Econ events
    momenteventForecastConsensus
    2017-05-18Current Account Q1$ 734.2M
    2017-05-18GDP Growth Rate YoY Q10.002
    2017-05-18GDP Growth Rate QoQ Q1-0.007
    2017-05-19Interest Rate Decision 0.0275

    Companies Reported Yesterday Include:
    CompanyCountrySectorReported
    Empresas COPEC SACHILEEnergy5/18/2017

    ISRAEL -2.07


  • Presidential visit to Israel, 43 years after Nixon's, stirs memories of ...
  • Benjamin Netanyahu Meets Aerosmith, Lays On the Jokes! 'You Don ...
  • Israel's Growth Slows Unexpectedly as Car Purchases Decline
  • Insights
  • Charedim and Arabs set to dominate Israel population
  • Medical equipment leads rise in Israel's exports
  • Broward sheriff makes case for more money
  • Israel's debt-to-GDP ratio falls
    Econ events
    momenteventForecastConsensus
    2017-05-18M1 Money Supply YoY APR

    KAZAKHSTAN -1.98


  • Meet the Kazakh woman using presidential portraits to avoid eviction
  • Kazakh Prime Minister: no time to relax about GDP growth
  • Kazakhstan's Economy Has Bottomed Out, Now Searching for New ...
  • Kazakhstan's Renewable Energy Quest
  • Central Asia's Population Growth
  • EIA- Kazakhstan Oil Market Overview
  • Government proceeds with privatising state property, says vice ...
  • Kazakhstan's Debt Focus Turns Domestic as Bond Buyback an Option

    LEBANON -1.96


  • President of Lebanon Receives Appeal to Stop the Killing of ...
  • Hariri is stuck. In order to return as prime minister, he had to sign on ...
  • Lebanon Prime Minister Saad Hariri calls for economic development
  • Gorsuch a much-needed win for Trump, GOP
  • Lebanese vent frustrations over strained economy
  • Chief Lebanese Industrialist: Gulf Markets Represent 30% of ...
  • Spending concerns raised at Lebanon budget hearing
  • Barclays keeps Lebanon's debt at Neutral

    Our Recent Research Reports

  • 2017-05-18 ML Morning Meeting
  • 2017-05-17 ML Morning Meeting
  • 2017-05-16 ML Morning Meeting
  • 2017-05-16 MidLincoln Weekly Chart Art
  • 2017-05-15 ML Sectors Strategy Weekly
  • 2017-05-15 ML Fixed Income Queries and Stance Weekly
  • 2017-05-15 ML Weekly (with correct links)

    Recent Chart Art

    Brazil Impeachment

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    Download file in Power Point    		Spike in HK yields is mostly caused by dislocation in coal markets which caused record losses for HK trader Noble Group. Yields spike..

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    Download file in Power Point