November 1, 2017

Best 15 Markets Yesterday

Country	ChangePct
GREECE	2.69
ZIMBABWE	2.19
KOREA	1.60
ESTONIA	1.56
PORTUGAL	1.54
EGYPT	1.47
SERBIA	1.34
TURKEY	1.32
ISRAEL	1.23
OMAN	1.13
BELGIUM	1.04
IRELAND	1.00
KENYA	0.93
NETHERLANDS	0.91
SPAIN	0.89

Worst 15 Markets Yesterday

Country	ChangePct
UKRAINE	-3.71
PAKISTAN	-2.44
COLOMBIA	-1.78
KUWAIT	-1.59
BRAZIL	-1.06
BOTSWANA	-1.00
HUNGARY	-0.93
SOUTH AFRICA	-0.87
NORWAY	-0.85
RUSSIA	-0.77
VIETNAM	-0.74
JAPAN	-0.73
AUSTRIA	-0.72
QATAR	-0.70
BOSNIA AND HERZEGOVINA	-0.65

Best 10 Markets YTD

Country	ChangePct
ZIMBABWE	409.01
JAMAICA	76.63
ARGENTINA	70.13
GHANA	68.91
AUSTRIA	49.49
POLAND	48.64
CHINA	46.02
KOREA	42.77
KAZAKHSTAN	39.97
CHILE	37.16

Worst 10 Markets YTD

Country	ChangePct
PAKISTAN	-28.83
QATAR	-19.84
OMAN	-15.66
BOTSWANA	-11.21
LEBANON	-7.61
ISRAEL	-6.01
RUSSIA	-5.02
JORDAN	-3.33
NEW ZEALAND	-1.66
SAUDI ARABIA DOMESTIC	-0.83

Best 10 Markets Last 12 months

Country	ChangePct
JAMAICA	103.01
AUSTRIA	52.98
ARGENTINA	50.58
POLAND	48.49
KAZAKHSTAN	39.09
GHANA	38.92
CHINA	38.33
KOREA	38.07
HUNGARY	37.71
ITALY	37.57

Worst 10 Markets Last 12 months

Country	ChangePct
EGYPT	-25.53
BOTSWANA	-23.57
QATAR	-17.59
PAKISTAN	-16.72
LEBANON	-11.47
ISRAEL	-10.82
OMAN	-10.24
NEW ZEALAND	-7.12
UKRAINE	-5.24
TUNISIA	-0.94

Country Average Sovereign+Corporate USD Yields Ordered By YTD Yield Change

country	Yield	YieldChange
Venezuela	32.62	8.93
Canada	10.19	2.02
Israel	4.41	0.21
Qatar	3.60	0.05
Oman	4.77	-0.16
United States	5.56	-0.17
Lebanon	6.66	-0.20
Korea (South)	3.81	-0.21
Bahrain	5.49	-0.31
China	3.87	-0.33
Philippines	3.25	-0.36
Pakistan	5.36	-0.40
South Africa	5.05	-0.42
Germany	3.91	-0.43
Jordan	5.80	-0.45
United Arab Emirates	3.68	-0.49
Thailand	2.94	-0.51
Trinidad and Tobago	4.89	-0.52
Morocco	3.81	-0.63
Peru	3.59	-0.64
Russian Federation	3.84	-0.66
Guatemala	4.24	-0.66
Chile	4.37	-0.67
Netherlands	3.98	-0.68
Azerbaijan	4.94	-0.71
Lithuania	2.28	-0.74
Poland	2.64	-0.77
Malaysia	3.42	-0.79
France	5.49	-0.79
Cote D'Ivoire (Ivory Coast)	5.84	-0.81
Romania	3.37	-0.82
Hungary	3.02	-0.84
Turkey	5.17	-0.84
Panama	3.52	-0.86
Mexico	4.40	-0.86
Colombia	4.32	-0.87
Italy	4.79	-0.87
Indonesia	3.76	-0.93
United Kingdom	5.14	-0.96
Croatia (Hrvatska)	3.16	-1.01
Uruguay	3.78	-1.07
El Salvador	6.79	-1.12
Brazil	5.27	-1.13
India	3.87	-1.14
Costa Rica	5.77	-1.22
Serbia	3.03	-1.33
Ecuador	7.28	-1.34
Vietnam	3.45	-1.36
Kazakhstan	4.32	-1.41
Dominican Republic	4.77	-1.53
Egypt	4.96	-1.54
Ghana	6.61	-1.73
Sri Lanka	4.47	-1.84
Argentina	5.70	-1.91
Ukraine	6.68	-2.02
Jamaica	6.58	-2.17
Luxembourg	8.18	-2.76

Chart: United Wagon a play on Russian Economic Rebound

Somethng we wanted to highlight: Russian economy picks up at the end of Q3 +2.5% yoy. United Wagon – the only engineering stock in Russia RTS index with exposure to transportation sector and to engineering manufacturing – lagging both the RTS and DOW Transport Avg. Transportation/manufacturing stocks in general – are the best way to play cyclical rebound. (link to company presentation)

Source: ML

Download file in Power Point

In capitalist Russia, a socialist garden flourishes

Take care of Russia

Russia-gate's Shaky Foundation

A Trip Through Putin Country

Tillerson: China and Russia need to take 'direct action' on North Korea

Zapad on Belarus's mind: 7th Belarus Reality Check Non-Paper

Economist compares depression, recession at Abilene talk

Comment

Weekly performance is between 2017-10-31 and 2017-10-24

Best global markets week to date EFM ASIA +1.24%, EM (EMERGING MARKETS) +0.52%, EUROPE +0.50%,

While worst global markets week to date EM LATIN AMERICA -2.54%, FM (FRONTIER MARKETS) -1.14%, USA 0.27%,

October ETF Asset Report: US Equities Prevail

Global funds lift US stocks to 40.8 per cent of equity holdings

EMERGING MARKETS-Emerging stocks set for monthly gain, tech ...

EMERGING MARKETS-Brazil, Mexico currencies head for large ...

Chinese stocks are selling off after a week of steady trade during ...

Apple, Nvidia Gain, Qualcomm Sinks; China Tech Play In Buy Zone

European Equities Offer Profit Despite Politics

Spanish stocks finish with their biggest daily gain in more than 3 ...

US Shale Could Bring Bearishness Back To Markets

Cautious Optimism Keeps Oil Over $60

Tata Steel: With better pricing and demand, expect a better second ...

CIS LONG STEEL: Prices fall on limited demand

Gold rate today: Find all the latest trends and news about gold

Gold prices rise as Fed set to take a call on rate hike

Best since the start of the week among various stock markets were BULGARIA +3.87%, VIETNAM +3.76%, KAZAKHSTAN +2.76%, POLAND +2.54%, EGYPT +2.42%, SPAIN +2.30%, TRINIDAD AND TOBAGO +2.20%, KOREA +2.20%, IRELAND +2.15%, INDIA +2.07%,

While worst since the start of the week among various stock markets were PAKISTAN -5.62%, COLOMBIA -5.38%, FINLAND -5.12%, ARGENTINA -3.22%, KUWAIT -3.17%, BRAZIL -2.90%, CROATIA -2.89%, MEXICO -2.83%, SLOVENIA -2.68%, MAURITIUS -2.47%,

moment	event	Forecast	Consensus
2017-11-02	Markit Manufacturing PMI OCT	53.4
2017-11-07	Foreign Exchange Reserves OCT	$ 109.8B
2017-11-07	Retail Sales MoM SEP	0.4%
2017-11-08	Interest Rate Decision	1.5%

Company	Country	Sector	Reported
EDP Renovaveis SA	SPAIN	Utilities	10/31/2017

United Wagon a play on Russian Economic Rebound Download file in Power Point	Jamaica Equities Download file in Power Point	What is Driving Korean Stocks This Year? Download file in Power Point
ML Research is looking for investors for a 10% block in the company Download file in Power Point	Russia RTS Index, Breakout is on the cards in a few weeks? Download file in Power Point	Brazil, Russia local markets are close to all time high. But in US dollar terms there is still some catch up to do. Download file in Power Point
Spain's MADX has been a short going into referendum Download file in Power Point	One of those weeks when Download file in Power Point	Russian Ruble/USD Sanctions/Oil Price/Carry Trade Scenarios… Download file in Power Point

Markets have been rising on fears of attack on North Korea, then they were rising as the threat of North Korea risk off was less. After some huff and puff - Rob decided to try and raise some money for his future automotive engineering business.	Initial Team	4 Wheel drive and thoughts about business
Rear Engine Transmission Shift Problem	6 Wheeler in the Making	Rob has a new plan
Bicycle - a more reliable transportation	Rob has built a woodie	Body on Frame

moment	event	Forecast	Consensus
2017-10-31	Tourist Arrivals YoY SEP
2017-11-02	New Car Sales YoY OCT
2017-11-02	10-Year Obligacion Auction
2017-11-02	5-Year Bonos Auction
2017-11-02	3-Year Bonos Auction
2017-11-02	Markit Manufacturing PMI OCT	54.8
2017-11-03	Consumer Confidence OCT	102.5
2017-11-03	Unemployment Change OCT	32.6K
2017-11-06	Markit Services PMI OCT	56.2
2017-11-08	Industrial Production YoY SEP	2.5%

moment	event	Forecast	Consensus
2017-10-31	Retail Sales YoY SEP	2.84%
2017-10-31	Retail Sales MoM SEP	0.40%
2017-10-31	Manufacturing Production YoY SEP	-0.61%
2017-10-31	Industrial Production MoM SEP	0.34%
2017-10-31	Industrial Production YoY SEP	6.7%
2017-10-31	Construction Output YoY SEP	20.8%
2017-10-31	Business Confidence OCT	80.15
2017-11-01	Nikkei Manufacturing PMI OCT	51.5
2017-11-01	Imports YoY OCT
2017-11-01	Exports YoY OCT
2017-11-01	Balance of Trade OCT	$11.5B
2017-11-01	Inflation Rate MoM OCT	0.2%
2017-11-01	Inflation Rate YoY OCT	2.2%
2017-11-02	Foreign Exchange Reserves OCT	$ 387B
2017-11-03	Current Account SEP	$9.27B

moment	event	Forecast	Consensus
2017-11-01	Unemployment Rate OCT	6.1%
2017-11-01	Investec Manufacturing PMI OCT	55.9
2017-11-03	Investec Services PMI OCT	58.2
2017-11-06	Industrial Production YoY SEP	3.2%
2017-11-08	Residential Property Prices MoM SEP	0.6%
2017-11-08	Residential Property Prices YoY SEP	12.5%

moment	event	Forecast	Consensus
2017-10-31	Infrastructure Output YoY SEP	2.6%
2017-10-31	Government Budget Value SEP	INR -4730B
2017-11-01	Nikkei Manufacturing PMI OCT	51.6
2017-11-03	Foreign Exchange Reserves 27/OCT	$ 399.3B
2017-11-03	Nikkei Services PMI OCT	51.8

Best 15 Markets Yesterday

Worst 15 Markets Yesterday

Best 10 Markets YTD

Worst 10 Markets YTD

Best 10 Markets Last 12 months

Worst 10 Markets Last 12 months

Country Average Sovereign+Corporate USD Yields Ordered By YTD Yield Change

Chart: United Wagon a play on Russian Economic Rebound

Comment

Chose Your Country

Best 10 Market Since the begining of the week

BULGARIA 3.87%

VIETNAM 3.76%

KAZAKHSTAN 2.76%

POLAND 2.54%

EGYPT 2.42%

SPAIN 2.30%

TRINIDAD AND TOBAGO 2.20%

KOREA 2.20%

IRELAND 2.15%

INDIA 2.07%

Worst 10 Market Since Begining of the Week

PAKISTAN -5.62%

COLOMBIA -5.38%

FINLAND -5.12%

ARGENTINA -3.22%

KUWAIT -3.17%

BRAZIL -2.90%

CROATIA -2.89%

MEXICO -2.83%

SLOVENIA -2.68%

MAURITIUS -2.47%

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