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June 30, 2017

Best 15 Markets Yesterday

CountryChangePct
PAKISTAN2.78
UKRAINE2.47
NIGERIA1.90
SINGAPORE1.77
CROATIA1.40
TUNISIA1.11
LITHUANIA1.00
NEW ZEALAND0.90
SERBIA0.83
KOREA0.78
CZECH REPUBLIC0.73
SLOVENIA0.73
COLOMBIA0.72
POLAND0.70
TRINIDAD AND TOBAGO0.68

Worst 15 Markets Yesterday

CountryChangePct
ROMANIA-2.84
BAHRAIN-2.51
FINLAND-1.54
KUWAIT-1.35
FRANCE-1.30
BELGIUM-1.24
GERMANY-1.23
ITALY-1.14
PHILIPPINES-1.13
SWITZERLAND-1.07
NETHERLANDS-1.06
KAZAKHSTAN-0.98
SPAIN-0.96
DENMARK-0.92
USA-0.86

Best 10 Markets YTD

CountryChangePct
ZIMBABWE51.39
ARGENTINA39.34
POLAND34.47
JAMAICA30.12
AUSTRIA29.88
NIGERIA29.61
BULGARIA29.27
KOREA29.15
TURKEY28.99
KAZAKHSTAN28.97

Worst 10 Markets YTD

CountryChangePct
OMAN-18.79
RUSSIA-15.17
QATAR-12.18
LEBANON-10.01
PAKISTAN-5.59
BOTSWANA-2.33
UNITED ARAB EMIRATES-0.03
JORDAN0.00
TRINIDAD AND TOBAGO0.53
BRAZIL1.20

Best 10 Markets Last 12 months

CountryChangePct
ZIMBABWE108.07
AUSTRIA63.18
BULGARIA61.25
JAMAICA50.05
KAZAKHSTAN47.15
GREECE43.66
POLAND41.31
HUNGARY41.24
SPAIN38.10
KOREA35.88

Worst 10 Markets Last 12 months

CountryChangePct
BOTSWANA-18.45
OMAN-16.98
GHANA-13.27
PHILIPPINES-8.01
BOSNIA AND HERZEGOVINA-6.53
QATAR-5.41
ISRAEL-3.11
EGYPT-2.64
LEBANON-1.81
TRINIDAD AND TOBAGO-1.77

Country USD Yields and Week Changes

CountryAverage YieldYield Average WkChange % pts
Iraq8.110.41
Ecuador9.610.37
Angola8.770.35
Kenya6.650.29
Azerbaijan5.370.27
Trinidad and Tobago4.840.24
Ghana7.760.22
Kazakhstan4.780.21
Egypt6.360.19
Cote D'Ivoire (Ivory Coast)6.480.19
Ethiopia6.910.18
Russian Federation4.070.18
South Africa4.970.18
Gabon6.980.17
Zambia7.730.17
Argentina6.320.15
Sri Lanka5.320.15
Dominican Republic5.190.15
Jordan5.820.14
Nigeria7.110.14
Oman4.850.13
Pakistan4.900.13
Mexico4.400.11
Lebanon6.260.10
Venezuela27.700.10
Morocco3.270.10
Tunisia6.380.09
Mongolia6.140.09
Paraguay5.290.09
Ukraine7.610.09
Colombia3.960.08
Jamaica5.690.08
El Salvador8.210.07
Panama3.400.07
Brazil5.060.07
Turkey4.870.06
Poland2.400.05
Indonesia3.930.05
Senegal6.230.05
Serbia3.130.04
Uruguay4.020.04
Peru3.680.03
Hungary3.080.02
Croatia (Hrvatska)3.180.02
Chile2.770.02
United States1.220.01
Lithuania2.270.01
Philippines3.230.00
Costa Rica6.040.00
Malaysia3.240.00
China2.860.00
Slovak Republic2.29-0.01
India3.56-0.01
Bolivia4.69-0.02
Vietnam3.99-0.02
Romania3.32-0.02

Chart: CIS Junior Gold Mining Companies – May Be Bargains? Centerra Gold, Chaarat Gold, Global Gold, Petropavlosk

Gold price declined from 1600 to 1200/oz While some CIS related Junior Gold mining companies have overreacted and probably worth researching

Source: ML

Download file in Power Point


Comment

Weekly performance is between 2017-06-29 and 2017-06-23

Best global markets week to date EM LATIN AMERICA +1.55%, FM (FRONTIER MARKETS) +0.36%, EUROPE +0.25%,

While worst global markets week to date USA -0.78%, EFM ASIA 0.07%, EM (EMERGING MARKETS) 0.23%,
  • Barclays and Credit Suisse challenge Wall Street's dominance in US ...
  • Virtus ETF Launch Shorts Exposure to Large/Mid-Cap US Equities
  • Op-Ed. Not just a bounce: The cyclical case for emerging markets ...
  • EMERGING MARKETS-Stocks bumper first half, yuan extends best ...
  • Copper at 3-mth high on $US, China, stocks
  • Chinese stocks could attract over $400 billion in flows, BlackRock says
  • European stocks inch higher after sharpest selloff in 9 months
  • JPMAM merges global and European equity teams; Malcolm Smith ...
  • Oil Price Outlook Darkens
  • Goldman Sachs slashes oil price projection amid US shale surge
  • Steel Price Forecast, June 2017: Steel Stocks Climb
  • Section 232 overshadows Chinese steel price recovery
  • Gold rate today: Track Gold price in India and market outlook
  • Gold rate per gram: Check out current gold price per gram

    Best since the start of the week among various stock markets were AUSTRIA +4.49%, BULGARIA +4.37%, CROATIA +4.17%, NIGERIA +3.92%, TUNISIA +3.78%, TRINIDAD AND TOBAGO +3.28%, ESTONIA +3.22%, SERBIA +3.04%, POLAND +2.90%, BRAZIL +2.89%,

    While worst since the start of the week among various stock markets were LEBANON -2.66%, JAMAICA -2.37%, ROMANIA -1.97%, BAHRAIN -1.86%, BOTSWANA -1.77%, SOUTH AFRICA -1.58%, FINLAND -1.57%, KUWAIT -1.33%, DENMARK -1.30%, PHILIPPINES -1.15%,

    News

    Best 10 Market Since the begining of the week


    AUSTRIA 4.49


  • End of right-wing populism?
  • Estonia, Bulgaria and Austria set common goals for next 18 months
  • Estonia, Bulgaria and Austria set common goals for next 18 months
  • The Top 10 Most Recession-Proof Countries in the World
  • Growing immigration will 'keep Austria young'
  • Austria aims to boost wine exports
  • Bingo for cash
  • Market Update - European Session: Focus On Thursday's ECB ...
    Econ events
    momenteventForecastConsensus
    2017-06-29Consumer Confidence JUN5
    2017-06-29Business Confidence JUN2.4

    BULGARIA 4.37


  • Bulgaria, Romanian leaders: we're not opposed to Russia
  • In Sofia, Macedonian prime minister Zaev speaks of 'sincere ...
  • Bulgaria reports 0.9% economic growth in Q1 2017
  • Bulgarian Tourism Sector Forecasts 8.5% Growth in 2015
  • Balkan States Face Big Population Drops, UN Warns
  • NSI: Bulgarian exports to third countries grow 22.1% YoY in first 4 ...
  • Bulgaria sees fiscal surplus rising to 1.7 pct of GDP at end-May
  • Bulgaria's Debt Grows by EUR 2.1238 in 2016

    CROATIA 4.17


  • Croatian and Serbian Presidents Meet in Belgrade: We Do Not ...
  • Croatia Enters Schengen Information System
  • EBRD And Zagreb Stock Exchange Present SME Project For Croatia ...
  • Croatia wants to reduce public debt to 75 pct of GDP by end of 2019
  • Croatia's Population to Drop to 2.5 Million, Says Latest UN Report
  • Croatia is fourth biggest economic partner to Slovenia (VII)
  • Croatian lawmakers approve 2017 budget, deficit set at 1.6 pct/GDP
  • Croatia wants to reduce public debt to 75 pct of GDP by end of 2019

    NIGERIA 3.92


  • Nigeria President Muhammadu Buhari Sends Eid Mubarak ...
  • Nigeria, Italy to finalise agreement on military, defence cooperation
  • Nigeria: Govt Turns to Renewable Energy for Economic Growth
  • NIPC, ODU'A, DAWN Commission to open new investment ...
  • UN: Half of world's population growth is likely to occur in Africa
  • On the Ugandan economy
  • Viable Option for Financing Nigeria's Budget Deficit
  • Nigeria: 17 Important Things to Know About Etisalat Nigeria Debt ...
    Econ events
    momenteventForecastConsensus
    2017-06-29Unemployment Rate Q113.50%

    TUNISIA 3.78


  • Tunisia freezes assets of former presidential hopeful
  • Tunisia freezes assets of former presidential hopeful
  • Couscous, capitalism and neocolonialism in Tunisia
  • Tunisia Seeks Foreign Investment to Cement Democratic Gains
  • IMF Executive Board Completes First Review under the Extended ...
  • Key Questions on Tunisia
  • UPDATE 1-Tunisia budget sees foreign lending nearly doubling in ...
  • Key Questions on Tunisia

    TRINIDAD AND TOBAGO 3.28


  • Burton drawn into FIFA corruption allegations in leaked report on ...
  • From PoS to Addis Ababa*
  • Trinidad & Tobago left as the last blacklisted tax haven
  • Grenada celebrate 43 years of Independence
  • David Ramsey: Christian Pulisic rescues US from soccer humiliation
  • Gateway City/Trend: Fastest-growing trade partners rich with surprises
  • 'Cut recurrent expenditure, invest in revenue generators'*
  • Moody's places Trinidad and Tobago's Baa2 rating on review for ...

    ESTONIA 3.22


  • Estonian, Maltese presidents discuss EU presidency
  • Estonia, Bulgaria and Austria set common goals for next 18 months
  • Nordea increases Estonia's economic growth outlook by 0.6 percent
  • Nordic meat company to invest in Estonia
  • Report: Estonia unable to maintain population size without immigration
  • April trade growth slows down
  • Estonia passes 2017 record level budget spending to bolster defense
  • NATO chief: US allies to spend $12 billion more this year

    SERBIA 3.04


  • Serbia Is Set to Get Its First Female, and First Openly Gay, Premier
  • Serbia Is Set to Get Its First Female, and First Openly Gay, Premier
  • Serbia needs new SBA deal with IMF to ensure economic growth - c ...
  • Exclusive Interview: Dragana Djurica, Senior Expert for ...
  • Telenor's 4G network covers 90% of Serbian population
  • Serbian c-bank expects 3% GDP growth in 2017
  • CORRECTED - Serbia swings to budget surplus in Jan-Apr
  • BRIEF-Moody's upgrades Serbia's issuer rating to Ba3; stable outlook

    POLAND 2.90


  • Coffin of Polish president killed in plane crash contains remains of ...
  • Poland's prime minister: Azerbaijan plays essential part in European ...
  • Private consumption likely to drive Polish economic growth, NBP ...
  • Poland's investment declines at fastest pace in 6 years
  • Putting Off Polish Demographic Reckoning Just Became Harder
  • Analysis of Key Sectors of Poland: Manufacturing, Pharmaceuticals ...
  • Poland's state budget posts smallest deficit in at least 18 years
  • Polish deputy minister signals reduced bond supply in July, August

    BRAZIL 2.89


  • Brazil president in trouble as top senator quits and says government ...
  • Brazil's Crisis Deepens as President Michel Temer Is Accused of ...
  • Factors Impacting Brazil's Economic Growth in 1Q17
  • São Paulo hosts Brazil Investment Forum 2017
  • Brazil's Wiser bets on growth in language school takeovers
  • Dry bulk CEOs offer mixed view of second half
  • Brazil's Finance Minister Resists Political Pressure for More Pork
  • Verde sees value in some Brazil debt

    Worst 10 Market Since Begining of the Week


    LEBANON -2.66


  • US president renews Lebanon commitment in Eid message to Aoun
  • At Fatima, cardinal consecrates Lebanon, Middle East to Mary
  • The heart of Lebanon's rural darkness
  • Beirut's Bright Future As A Tech Hub For MENA, If Its Politicians Will ...
  • The Popularity Of Hezbollah Is On The Rise In The Middle East
  • Chief Lebanese Industrialist: Gulf Markets Represent 30% of ...
  • First Lebanon budget in 12 years targets 8.7 pct deficit
  • Lebanon defies odds to keep its finances afloat

    JAMAICA -2.37


  • Farewell Captain Burrell - Hundreds mourn JFF President at ...
  • Goodbye, Portia
  • World Bank Says Jamaica is Poised for Increased Growth
  • JAMPRO and BOJ Governor promotes Jamaica in London
  • PM pushes harder for national ID system
  • TTMA: Red tape stifling regional trade
  • Property tax: what's the problem?
  • Golding questions delayed gov't contribution under proposed ...

    ROMANIA -1.97


  • Romanian president appoints Social Democrat Mihai Tudose as ...
  • Mihai Tudose named as prime-minister designate in Romania
  • Raiffeisen revises up Romania economic growth forecast
  • Romania's Fondul says Hidroelectrica IPO unlikely this year
  • Tamaian (TM): Romania ranks among last for road safety; daily ...
  • #countryfocus | Romania set to capitalize on new investment wave
  • Romania's budget deficit at 0.27 pct of GDP after five months
  • UPDATE 1-Romanian 2018 gross funding needs seen at 62.6 billion ...

    BAHRAIN -1.86


  • Qatar accused of "military escalation" as inter-Arab rift deepens
  • Qatar-Gulf crisis: All the latest updates
  • Bahrain sees non-oil growth rise to 3.7%
  • Bahrain Investment Market - a welcome addition to the financing of ...
  • 2. Economic growth attracts migrants to Persian Gulf
  • Debt burden to grow heavier for Bahrain if oil prices remain low ...
  • 'No end in sight' to Bahrain's fiscal woes in 2017
  • Moody's cuts Saudi, Oman, Bahrain debt ratings

    BOTSWANA -1.77


  • Former Botswana president to be laid to rest
  • Dignitaries in Botswana for Sir Masire's send-off
  • Ketumile Masire, Who Shaped and Led a Vibrant Botswana, Dies at 91
  • BITC reaches out to clients
  • South Africa's population
  • Botswana's Diamond Exports Rise
  • Budget 2017/18: Govt's behemoth job creation task
  • KFC's bankruptcy raises eyebrows

    SOUTH AFRICA -1.58


  • Jacob Zuma wages war on South Africa's institutions
  • A no-show in Addis Ababa could damage SA's image
  • Economic Outlook: Fitch cuts growth forecast to 0.7percent
  • Nigeria rated poor in Africa investment
  • South Africa's population
  • PREMIER'S PERSPECTIVE: Land revitalisation initiatives ...
  • South Africa budget targets top earners
  • South Africa Debt Downgrade Hits ETF: Slowing GDP, Slower Returns
    Econ events
    momenteventForecastConsensus
    2017-06-29PPI YoY MAY4.70%
    2017-06-29PPI MoM MAY0.30%

    FINLAND -1.57


  • Finland picks Alexander Stubb as next vice president of EIB
  • Finnish coalition at risk after party elects far right leader
  • Finnish economic growth overtakes Sweden's in Q1
  • European Semester Shows EU in the Eye of the Storm
  • Finland's open door roils its politics
  • Wednesday's photo of the day and news highlights
  • Finnish government to fall short of economic targets, analysts say
  • Decline and Fall: Finland's National Debt Beyond 1990s Crisis Level
    Econ events
    momenteventForecastConsensus
    2017-06-29Business Confidence JUN8.2

    KUWAIT -1.33


  • UAE Vice-President, Abu Dhabi Crown Prince hold talks with Kuwait ...
  • Stakes high for Kuwait as mediator in Qatar crisis
  • Indian businesses brace for biggest tax reform
  • Manhattan's GM Building Lands $2.3B Refi
  • ABK sponsors Kuwait's Youth Basketball tournament
  • Beximco in milestone achievement with Kuwait exports
  • Kuwait projects $26 billion state budget deficit this fiscal year
  • Creditors of Kuwait's Investment Dar team up to consider $2.7 bln ...

    DENMARK -1.30


  • DONG to convert sixth Denmark fossil fuel plant via new contract
  • Former Danish deputy PM turned EU negotiator who took on Google ...
  • World's best place to live - Denmark - is now looking for foreign talent
  • African Infrastructure Investment Managers invests in Albatros ...
  • Denmark's pig production – modern, efficient, changing
  • IMF warns Denmark of risk for exports if Britain quits EU
  • How self-service technology is enhancing the guest experience
  • Denmark without foreign currency loans for the first time in 183 yrs
    Econ events
    momenteventForecastConsensus
    2017-06-29Business Confidence JUN-4

    PHILIPPINES -1.15


  • Philippine President Rodrigo Duterte Makes First Public ...
  • Prime Minister Minnis Attends Filipino Association's 119th ...
  • Duterte's Philippines Is The 10th Fastest Growing Economy In The ...
  • Leveraging on the Philippines investment potential
  • Investing in Philippines Property: The Ultimate Guide
  • Philippines' exports rise for 5th month, electronics rally seen intact
  • Philippines' budget balance swings back to deficit in Sept
  • Moody's affirms PH minimum investment grade

    Our Recent Research Reports

  • 2017-06-30 Midlincoln Research - Subscribe to ML Premium Strategy Product
  • 2017-06-29 ML Morning Meeting
  • 2017-06-28 MidLincoln Research Z-Rank Top Picks
  • 2017-06-26 ML Fixed Income Weekly
  • 2017-06-26 ML Weekly
  • 2017-06-26 ML Index Atlas
  • 2017-06-26 ML Sectors Weekly
  • 2017-06-26 ML Morning Meeting
  • 2017-06-26 ML IPOs Weekly

    Recent Chart Art

    Facing Balooning MIFID Costs

    Download file in Power Point
    Here is a Cash Cost Curve for Gold Companies Polyus, Highland, Centerra, Buenaventura and Global Gold Inc are the winners

    Download file in Power Point
    CIS Junior Gold Mining Companies – May Be Bargains? Centerra Gold, Chaarat Gold, Global Gold, Petropavlosk

    Download file in Power Point
    12 Months and YTD Performance of Gold Stocks vs. Gold Price – slightly overreacting

    Download file in Power Point
    China A shares Addition to MSCI is a non event

    Download file in Power Point
    Despite some worsening of GEM yields – China (USD) yields are flat

    Download file in Power Point
    Palladium – one of the best in commodities space this year.

    Download file in Power Point
    Emerging Markets Funds Post 3bn$ Inflows Driven By US Vanguard GEM ETF

    Download file in Power Point
    What is better than Gold?

    Download file in Power Point