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May 23, 2017

Best 15 Markets Yesterday

CountryChangePct
TURKEY2.16
PAKISTAN2.07
ZIMBABWE1.90
AUSTRIA1.89
NEW ZEALAND1.83
KOREA1.66
ESTONIA1.43
GREECE1.41
CHINA1.36
POLAND1.35
DENMARK1.20
MAURITIUS1.16
KENYA1.14
TAIWAN1.08
VIETNAM1.08

Worst 15 Markets Yesterday

CountryChangePct
EGYPT-1.45
BRAZIL-1.35
SRI LANKA-1.26
UKRAINE-1.10
KAZAKHSTAN-1.09
ARGENTINA-1.05
KUWAIT-1.03
TUNISIA-0.93
JAMAICA-0.91
BELGIUM-0.84
ITALY-0.75
UNITED ARAB EMIRATES-0.33
BAHRAIN-0.33
NIGERIA-0.30
OMAN-0.29

Best 10 Markets YTD

CountryChangePct
ARGENTINA40.02
POLAND34.65
AUSTRIA33.04
JAMAICA28.92
ROMANIA26.14
KOREA26.13
GREECE25.41
KAZAKHSTAN24.34
SPAIN23.61
TURKEY22.56

Worst 10 Markets YTD

CountryChangePct
OMAN-12.23
LEBANON-8.14
RUSSIA-8.02
TUNISIA-3.78
TRINIDAD AND TOBAGO-2.36
QATAR-2.20
SAUDI ARABIA DOMESTIC-2.15
QATAR DOMESTIC-1.95
JORDAN-0.89
EGYPT-0.11

Best 10 Markets Last 12 months

CountryChangePct
AUSTRIA55.77
JAMAICA51.58
BULGARIA47.63
ZIMBABWE41.12
KOREA38.69
TAIWAN37.42
KAZAKHSTAN36.52
POLAND36.33
HUNGARY34.52
CHINA34.00

Worst 10 Markets Last 12 months

CountryChangePct
NIGERIA-29.19
TUNISIA-18.87
BOTSWANA-17.28
GHANA-15.94
EGYPT-13.91
OMAN-12.01
ISRAEL-8.33
SLOVENIA-8.21
BOSNIA AND HERZEGOVINA-7.06
KENYA-3.44

Country USD Yields and Week Changes

CountryAverage YieldYield Average WkChange % pts
Azerbaijan5.250.45
Brazil5.100.32
Lebanon6.270.22
Ukraine7.810.16
Oman4.800.16
Serbia3.590.15
Iraq7.950.14
Tunisia6.240.14
Trinidad and Tobago4.910.14
Egypt6.100.11
Argentina6.410.11
Bolivia5.060.10
Gabon6.660.10
Angola8.740.10
Croatia (Hrvatska)3.650.08
Cote D'Ivoire (Ivory Coast)6.400.07
Mongolia5.980.06
South Africa4.970.06
Pakistan5.110.06
Ecuador8.710.05
Dominican Republic5.340.04
Jamaica5.850.04
Ethiopia6.620.04
Turkey5.110.04
Nigeria6.920.03
El Salvador8.520.03
Ghana8.180.03
Sri Lanka5.310.02
Jordan5.890.02
United States1.010.02
Zambia7.740.01
Costa Rica6.190.01
Kazakhstan4.590.01
Paraguay5.540.01
Russian Federation3.930.00
Romania3.60-0.01
Panama3.52-0.01
Lithuania2.47-0.02
Hungary3.30-0.03
Peru3.81-0.03
Indonesia4.09-0.04
Colombia4.06-0.04
Kenya6.52-0.04
Vietnam4.26-0.04
Poland2.70-0.04
Uruguay4.27-0.05
Morocco3.36-0.05
Mexico4.45-0.05
Philippines3.25-0.06
Slovak Republic2.40-0.06
Venezuela24.86-0.09
Chile2.86-0.12
Malaysia3.34-0.13
China2.89-0.16
India3.72-0.18

Chart: Argentina – why so hot?

Argentina is the best market in equities this year.. A 100bpts contraction in Debt yields caused a 40% run in equities

Source: ML

Download file in Power Point


Comment

Weekly performance is between 2017-05-22 and 2017-05-19

Best global markets week to date EFM ASIA +1.12%, EM (EMERGING MARKETS) +0.80%, USA +0.53%,

While worst global markets week to date EM LATIN AMERICA -0.68%, FM (FRONTIER MARKETS) -0.05%, EUROPE 0.38%,
  • US stocks CHAOS: Investors ditch almost $9 billion of equities as ...
  • International Stock Funds Take Lead Over US Equities
  • Emerging markets remain a good bet and are under-owned despite ...
  • EMERGING MARKETS-Brazil stocks, currency extend losses on ...
  • China stocks mixed, concerns over policy tightening linger; Hong ...
  • China stocks pressured by tighter regulation; Hong Kong at 22 ...
  • European stocks finish lower after Merkel says euro 'too weak'
  • Equity-Euro Correlation Boosts Appeal of European Stocks: Chart
  • Canada And Brazil Could Jeopardize Oil Market Balance
  • Salad lovers hit by record high extra virgin olive oil price
  • Iron ore gains again as Chinese steel prices scoot higher
  • US Steel Prices Fall in May, and This Might Just Be the Beginning
  • Gold prices climb
  • Gold price: Find all the latest trends and news about Gold

    Best since the start of the week among various stock markets were TURKEY +2.16%, PAKISTAN +2.07%, ZIMBABWE +1.90%, AUSTRIA +1.89%, NEW ZEALAND +1.83%, KOREA +1.66%, ESTONIA +1.43%, GREECE +1.41%, CHINA +1.36%, POLAND +1.35%,

    While worst since the start of the week among various stock markets were EGYPT -1.45%, BRAZIL -1.35%, SRI LANKA -1.26%, UKRAINE -1.10%, KAZAKHSTAN -1.09%, ARGENTINA -1.05%, KUWAIT -1.03%, TUNISIA -0.93%, JAMAICA -0.91%, BELGIUM -0.84%,

    News

    Best 10 Market Since the begining of the week


    TURKEY 2.16


  • Turkey condemns US over 'aggressive' acts against Erdogan's ...
  • The violence of ErdoÄŸan's bodyguards in Washington DC is Turkey's ...
  • Can Turkey disprove IMF's dismal economic growth forecast?
  • Referendum Result Puts Reform in Focus in Turkey
  • Can Syrians sway future elections in Turkey?
  • Forum Istanbul gathers Turkish, international experts
  • Turkey's budget deficit recorded at €4.6bn for Jan-April
  • Turkey debt stock reaches $223.4 billion in April
    Econ events
    momenteventForecastConsensus
    2017-05-22Central Government Debt APRTRY 794.6B
    2017-05-23Capacity Utilization MAY78.80%
    2017-05-23Business Confidence MAY111.9

    PAKISTAN 2.07


  • Donald Trump Seeks To Convert US Military Grant To Pakistan Into ...
  • Hong Kong police on high alert as Pakistan prime minister visits city ...
  • Pakistan witnessing significant economic growth: Aizaz
  • Prime Minister Nawaz Sharif addressing the forum in Hong Kong on ...
  • Population growth is linked to development: Aseefa Bhutto Zardari
  • Pakistan a $300-bn economy, growing on borrowed funds
  • PML-N's priorities versus allocations
  • Is Pakistan's debt really a problem?

    ZIMBABWE 1.90


  • Mugabe embarks on yet another foreign trip
  • Robert Mugabe still one of the 'hottest news stories' on African ...
  • Zimbabwe: Harness Pension Funds for Economic Growth
  • ANC has reached it sell-by date – Moeletsi Mbeki
  • Govt appeals for $103m for HIV testing
  • Zim-Namibia seal economic pact
  • Retention funds cost Zim millions
  • Zimbabwe's Debt Clearance Strategy Questioned

    AUSTRIA 1.89


  • Austrian President calls on all women to wear headscarves in ...
  • Populist pressures put Austria's unhappy political marriages on the ...
  • Tracking how many key positions Trump has filled so far
  • Looking for a job? How to deduct job-search expenses on your taxes
  • Austrian Population Grows Solely Due to New Migrants
  • Austria aims to boost wine exports
  • Fitch Affirms Sovereign Ratings Of Austria & Portugal
  • Moody's changes outlook on Austria's Aaa rating to negative from ...
    Econ events
    momenteventForecastConsensus
    2017-05-24Industrial Production YoY MAR2.60%

    NEW ZEALAND 1.83


  • PMA president on media freedom in Tonga
  • Tongan prime minister launches attack on public broadcaster's ...
  • American Samoa urged to take Hawaii's lead on economic growth
  • New Zealand government commits $178m to improving visitor ...
  • Election 2017: More to immigration than just saying 'yes' or 'no' to ...
  • NZ needs to add more value to its red meat exports to China, bank ...
  • New Zealand budget likely to print healthy picture of fiscal outlook ...
  • The Aberdeen Asia-Pacific Income Fund (FAX) Receives Daily ...

    KOREA 1.66


  • Park Geun-hye: S Korea trial of impeached president begins
  • Japanese Prime Minister Shinzo Abe wants to raise North Korean ...
  • South Korea's Moon names key cabinet members
  • Hong Kong bidders line up for Walkie Talkie stake
  • Africa's Population Boom - Burden or Opportunity?
  • Korea's exports keep up growth streak in first 20 days in May
  • S.Korea's budget carrier Jin Air to list by year-end amid increase in ...
  • North Korea owes Finland millions in decades-old debt
    Econ events
    momenteventForecastConsensus
    2017-05-22PPI YoY APR4.20%
    2017-05-22PPI MoM APR0.20%
    2017-05-23External Debt Q1$ 375.1B
    2017-05-25Interest Rate Decision1.25%
    2017-05-26Consumer Confidence MAY100.6

    ESTONIA 1.43


  • Estonian President Kaljulaid: 'I don't believe that Russia would ...
  • Estonian prime minister to pay a working visit
  • Is This Tiny European Nation a Preview of Our Tech Future?
  • Nordic meat company to invest in Estonia
  • Results of operations for the 1st quarter 2017
  • Article
  • Estonia passes 2017 record level budget spending to bolster defense
  • NATO Chief Urges Countries to Keep Up with Defense Spending

    GREECE 1.41


  • Greek president congratulates China on Belt and Road forum
  • Greece seeks debt help from Eurozone, IMF after backing further cuts
  • Greece fails to win debt deal, but eurozone business growth hits six ...
  • Greece offers no increase in taxes to attract big investments
  • Cities urged to 'embrace new reality' of mass migration
  • Exports of medicines the second biggest category for Greece
  • EU underlines Portugal's recovery from debt crisis
  • Euro zone may defer decision on Greece debt relief - Irish finmin
    Econ events
    momenteventForecastConsensus
    2017-05-22Current Account MARˆ -0.68B

    Companies Reported Yesterday Include:
    CompanyCountrySectorReported
    Hellenic Exchanges - Athens Stock Exchange SAGREECEFinancials5/22/2017

    CHINA 1.36


  • China shrugs off Duterte's claim that Xi threatened war
  • Xi Jinping's imperialistic ambitions have beaten Modi's soft-power ...
  • Initiative backs growth along Belt and Road
  • China investment brightens Pakistan's future
  • China may have 90 million less people than claimed (that's twice the ...
  • China's Exports Remained Resilient as Global Demand Recovers
  • China budget hotel brands eye overseas expansion
  • China's Debt Addiction Will Be Hard to Cure
    Econ events
    momenteventForecastConsensus
    2017-05-22Export Orders YoY APR
    2017-05-22Unemployment Rate APR3.86%
    2017-05-23Retail Sales YoY APR2.30%
    2017-05-23Industrial Production YoY APR4.10%
    2017-05-24M2 Money Supply YoY APR

    Companies Reported Yesterday Include:
    CompanyCountrySectorReported
    Tingyi Cayman Islands Holding CorpCHINAConsumer Staples5/22/2017

    POLAND 1.35


  • Former Polish president Lech Walesa arrives at Cannes
  • Poland's Prime Minister says country will accept no refugees as EU ...
  • Poland produces polished GDP growth
  • Poland's investment declines at fastest pace in 6 years
  • Poland population dropped by a million since joining EU
  • HSBC: Rapid growth forecast for Polish service exports
  • Capital Project Delays are Stifling Growth and Hurting Communities
  • Polish state bank BGK places 1.2 bln zlotys in bonds
    Econ events
    momenteventForecastConsensus
    2017-05-25Unemployment Rate APR7.70%

    Worst 10 Market Since Begining of the Week


    EGYPT -1.45


  • Donald Trump praises Egypt President al-Sisi and plans trip to Cairo
  • Prime minister opens “Ahlan Ramadan” fair, 200 companies ...
  • Egypt's interest rate hike to curb growth but not inflation, critics say
  • Egypt- Investment funds lose 3.3% of their assets during first quarter
  • Forget ISIS, Egypt's Population Boom Is its Biggest Threat
  • Growth rate of Egypt's exports reaches 7.4% in 2016
  • Egypt's 8-month budget deficit drops to 7% of GDP as revenues ...
  • Yields Fall at Egypt Debt Sale as Weaker Pound Lures Foreigners

    BRAZIL -1.35


  • Brazil president retreats from attempts to suspend investigation
  • Spain, Brazil Want EU-Mercosur Deal, Worry About Venezuela
  • Brazil Optimistic Despite Decline of UN Economic Forecast
  • Brf Brasil Foods SA (NYSE:BRFS) Can't Be More Risky. Short ...
  • Reforms end three years of turmoil and recession in Brazil
  • Brazil exports more limes to EU
  • Brazil could raise up to $1 bln in debt renegotiation -sources
  • Brazil's “Emerging Market Economy”: Canary in “The Global ...
    Econ events
    momenteventForecastConsensus
    2017-05-22Federal Tax Revenues APRBRL 116.5B
    2017-05-23Foreign Direct Investment APR$ 7.7B
    2017-05-23Current Account APR$0.9B
    2017-05-23IPCA mid-month CPI YoY MAY4%
    2017-05-23IPCA mid-month CPI MoM MAY0.16%
    2017-05-25Bank Lending MoM APR0.10%

    SRI LANKA -1.26


  • Sri Lanka President Switches Foreign, Finance Ministers in Reshuffle
  • Sri Lankan plantation unions embrace Indian prime minister
  • * Northern economy must be developed for Sri Lanka's growth - PM
  • Sri Lanka Investment and Business Conclave 2017 to draw FDI
  • How Sri Lanka Won the War
  • * Positive outlook for Sri Lanka's exports in 1Q 2017
  • Budget deficit slashed to 5.4% amid expenditure cuts, higher revenue
  • Sri Lanka's debt overhang: Getting better or worse?

    UKRAINE -1.10


  • Ukraine president's site 'attacked by Russia'
  • Kiev court gives permission to try former Ukraine's prime minister in ...
  • Ukraine capable of over 10% of annual growth, may achieve $750 ...
  • Shmorhun: 'Agriculture is really a crisis buster for Ukraine'
  • Nolan Peterson: Why Is Ukraine's Population Shrinking?
  • IMF, EBRD confirm Ukraine's GDP growth at 2% in 2017
  • EU battles Russia's Nord Stream 2 slice 'n' dice
  • Tipoff From JPMorgan Sends Traders Hunting for Obscure Ukraine ...

    KAZAKHSTAN -1.09


  • Kazakhstan's President Expresses Hope for 'New Level' in Relations ...
  • Pakistan, Kazakhstan possess great potential for development ...
  • WB Predicts Slow Growth for Kazakhstan
  • 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-to-GDP ratio is 24.6%
    Companies Reported Yesterday Include:
    CompanyCountrySectorReported
    Halyk Savings Bank of Kazakhstan JSCKAZAKHSTANFinancials5/22/2017

    ARGENTINA -1.05


  • Carlos Tevez has lunch with Argentina President Mauricio Macri in ...
  • Statement - Minister Duclos strengthens bilateral relationships with ...
  • Moody's: Economic growth set to help Argentina's sub-sovereigns
  • Argentine energy minister sees $50/b oil supporting shale growth
  • 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 ...
  • Argentina Debt Outlook Improving, Moody's Says
    Econ events
    momenteventForecastConsensus
    2017-05-23Interest Rate Decision26.25%
    2017-05-23Balance of Trade APR$400M
    2017-05-23Consumer Confidence MAY42

    KUWAIT -1.03


  • Trump Trip: President Meets With Egypt, Qatar, Bahrain, Kuwait
  • Amir meets Italian Prime Minister
  • Kuwait calls for facilitating GCC customs procedures
  • Money flowing into sovereign wealth funds declines to $7.4tn
  • Kuwait population rises to 4.33 mln
  • Beximco in milestone achievement with Kuwait exports
  • Kuwait '35 vision tangible strides, clear reforms to build ...
  • Russia repays Soviet-era debt of $1.7 bln to Kuwait

    TUNISIA -0.93


  • Tunisia president to participate in US-Islamic summit in Riyadh
  • UPDATE 1-Tunisia forces clash with protesters, one killed, stations ...
  • Tunisia economic growth picks up in first quarter
  • Tunisia Seeks Foreign Investment to Cement Democratic Gains
  • Reinventing oneself in a fast-paced creative environment
  • UAE- Tunisa's exports down 3.3%, imports up 5.8% in Q1 2017
  • Tunisia: budget deficit exceeds 4 billion dinars at end November
  • Regional partners pledge billions in help for Tunisia

    JAMAICA -0.91


  • Missions for Christ President Don Snowden brings gospel, aid to ...
  • Labour Day Message by Prime Minister, The Most Hon. Andrew ...
  • Jamaica's Economic Reform and Growth: Interview with Nigel Clarke
  • My Destination Experience Jamaica: Networking With $100B In ...
  • Growing old and beautiful
  • Jamaica rum exports projected to grow
  • Property tax: what's the problem?
  • We need a debt hero

    BELGIUM -0.84


  • President Trump's Schedule for His First Foreign Trip
  • NATO Secretary General discusses May Meeting with Belgian Prime ...
  • Ex-New Belgium CEO's watermelon-water startup, backed by ...
  • IN BRIEF: Molymet approves Belgium investment
  • India's Dream Jobs
  • Carrots could use a boost
  • Belgium Puts Corporate Tax Rate Under Review in Budget Deal
  • Wales owe Belgium debt of gratitude as they prepare for crunch ...
    Econ events
    momenteventForecastConsensus
    2017-05-24Business Confidence MAY-0.4
    2017-05-24Industrial Production MoM MAR-1.70%
    2017-05-24Industrial Production YoY MAR2.50%

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