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Tactical Stance


Stocks may be just closing the gap in previous correction

Strategic Stance


Hope that global rebalancing through debt markets will stimulate GEM and subsequently DM growth


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Markets last Month From Best to Worst
Click On the Country Link to Go to Country Monthly Page

*Not All the Countries Have Associated Country Pages
nameMonthChange
ARGENTINA27.07
JAMAICA17.75
TURKEY14.33
SINGAPORE11.84
THAILAND10.50
SWEDEN10.34
COLOMBIA9.74
ITALY8.85
RUSSIA8.56
CHINA8.16
KOREA8.14
FRANCE8.06
USA7.69
GERMANY7.57
NETHERLANDS7.24
SOUTH AFRICA7.14
HONG KONG7.03
BRAZIL6.90
DENMARK6.73
TAIWAN6.65
BELGIUM6.65
SWITZERLAND6.63
ROMANIA6.34
CROATIA6.32
NORWAY6.30
POLAND6.20
AUSTRIA6.16
FINLAND6.11
KAZAKHSTAN5.79
INDONESIA5.78
CHILE5.73
CANADA5.48
PERU5.46
IRELAND5.34
JAPAN5.19
UNITED KINGDOM5.08
GREECE5.04
PORTUGAL4.97
SPAIN4.68
MEXICO4.49
NEW ZEALAND4.40
ISRAEL4.37
MOROCCO4.06
LEBANON4.03
BAHRAIN3.92
UKRAINE3.69
SAUDI ARABIA DOMESTIC3.61
BANGLADESH3.52
MALAYSIA3.19
CZECH REPUBLIC3.02
PHILIPPINES3.02
EGYPT2.82
SLOVENIA2.62
KUWAIT2.58
QATAR DOMESTIC2.36
QATAR2.25
JORDAN2.24
SRI LANKA2.16
MAURITIUS1.79
TUNISIA1.04
LITHUANIA0.85
TRINIDAD AND TOBAGO0.74
FM AFRICA0.30
VIETNAM0.20
INDIA0.15
SERBIA-0.08
ESTONIA-0.38
KENYA-0.44
UNITED ARAB EMIRATES-0.54
HUNGARY-1.55
BOTSWANA-2.18
OMAN-2.69
BULGARIA-3.50
ZIMBABWE-3.87
NIGERIA-4.39
BOSNIA AND HERZEGOVINA-7.59
PAKISTAN-11.53

Markets YTD From Best to Worst
Click On the Country Link to Go to Country Monthly Page

nameYTD Change
RUSSIA29.96
GREECE29.06
BAHRAIN28.90
ARGENTINA27.63
EGYPT23.12
JAMAICA22.33
KUWAIT21.11
SWITZERLAND19.61
CANADA19.22
COLOMBIA19.04
NETHERLANDS19.04
NEW ZEALAND19.01
USA18.52
KENYA17.37
KAZAKHSTAN17.18
ROMANIA16.93
ZIMBABWE16.87
THAILAND16.52
IRELAND16.28
BELGIUM16.00
FRANCE15.56
SAUDI ARABIA DOMESTIC15.09
BRAZIL15.00
HONG KONG14.78
DENMARK14.26
ITALY14.06
SINGAPORE12.70
PHILIPPINES12.64
CHINA12.48
GERMANY12.06
TAIWAN11.44
SOUTH AFRICA10.88
SWEDEN10.58
UNITED KINGDOM10.19
VIETNAM9.68
PORTUGAL9.45
SPAIN8.40
NORWAY8.39
LITHUANIA8.26
JAPAN8.17
CROATIA7.59
INDIA7.43
MEXICO6.67
AUSTRIA6.65
PERU6.64
SLOVENIA6.49
INDONESIA6.48
FINLAND6.03
ISRAEL5.45
BANGLADESH3.13
KOREA2.99
TURKEY2.88
CZECH REPUBLIC2.19
POLAND2.19
UNITED ARAB EMIRATES1.84
TUNISIA1.06
MAURITIUS0.82
MALAYSIA0.33
HUNGARY-0.17
UKRAINE-0.96
ESTONIA-1.02
JORDAN-1.10
FM AFRICA-1.15
TRINIDAD AND TOBAGO-1.56
MOROCCO-1.57
BOSNIA AND HERZEGOVINA-2.70
CHILE-3.49
QATAR DOMESTIC-4.75
QATAR-5.19
OMAN-7.84
SRI LANKA-8.08
SERBIA-8.58
BULGARIA-8.82
LEBANON-13.16
NIGERIA-14.51
PAKISTAN-19.07
BOTSWANA-21.00

Best 15 Market Last 12 Months

CountryChangePct
ZIMBABWE126.61
JAMAICA61.24
BRAZIL35.72
KUWAIT30.30
BAHRAIN29.98
RUSSIA21.61
PHILIPPINES19.34
INDONESIA18.67
THAILAND17.71
SWITZERLAND16.75
QATAR15.99
ARGENTINA14.07
NEW ZEALAND12.52
HUNGARY10.60
USA8.91

Worst 15 Market Last 12 Months

CountryChangePct
OMAN-1.42
UNITED ARAB EMIRATES-1.46
VIETNAM-2.26
SOUTH AFRICA-2.38
CZECH REPUBLIC-3.01
MALAYSIA-3.39
BANGLADESH-3.58
SPAIN-4.37
TRINIDAD AND TOBAGO-4.38
ITALY-4.56
JAPAN-4.70
ISRAEL-4.75
MOROCCO-4.95
ESTONIA-5.34
GERMANY-5.83

Country USD Yields and YTD Changes

countryYieldYieldChange
Jamaica12.003.81
Zambia13.331.00
Israel6.340.30
Venezuela0.000.00
Argentina9.65-0.37
Kazakhstan6.62-0.53
Oman5.87-0.62
Lebanon10.54-0.64
Luxembourg8.24-0.85
United States5.72-1.16
Trinidad and Tobago4.40-1.25
Korea (South)3.15-1.28
Vietnam3.48-1.29
Philippines3.04-1.35
Malaysia3.24-1.36
Saudi Arabia4.63-1.38
Uruguay3.55-1.42
Kuwait3.17-1.44
Qatar3.16-1.44
Guatemala4.27-1.44
Morocco3.63-1.50
Singapore3.74-1.50
United Arab Emirates3.91-1.50
Thailand3.12-1.50
Peru3.80-1.51
Poland2.34-1.52
Dominican Republic4.90-1.53
Romania3.44-1.55
Panama3.83-1.55
Mexico4.82-1.55
Jordan5.93-1.55
Bahrain5.46-1.57
Hong Kong3.64-1.58
Germany5.39-1.58
Turkey7.25-1.63
Indonesia3.81-1.64
El Salvador6.66-1.65
Senegal6.54-1.68
Serbia2.82-1.70
Netherlands4.41-1.72
Angola7.32-1.74
Hungary2.72-1.75
Chile3.84-1.75
Brazil4.39-1.77
Cote D'Ivoire (Ivory Coast)6.37-1.78
Canada4.84-1.82
Croatia (Hrvatska)2.54-1.85
India4.93-1.85
Azerbaijan3.82-1.95
France6.00-1.95
Russian Federation4.32-1.97
Colombia3.68-2.00
Egypt6.13-2.00
Costa Rica5.92-2.01
South Africa4.65-2.03
United Kingdom4.10-2.04
Ireland4.49-2.11
Nigeria6.52-2.18
Ghana6.84-2.32
Macau4.45-2.46
Italy5.14-2.48
Australia3.87-2.48
Pakistan5.76-2.49
Sri Lanka6.32-2.53
Kenya6.49-2.59
China4.86-2.67
Ukraine6.75-3.42
Ecuador7.24-3.47

Fund flows YTD

FocusObjectiveAsset ClassFlow USD mn
SizeLARGE-CAPEquity26168.43
segmentEMERGING MARKETSEquity11123.49
CommoditiesPRECIOUS METALSCommodity4315.62
industryUTILITIES SECTOREquity3578.12
RiskGOVERNMENT BONDFixed Income3330.54
industryHEALTH CARE SECTOREquity2967.80
CommoditiesPRECIOUS METALSMixed Allocation2826.81
regionASIAN PACIFIC REGIONFixed Income2008.25
regionEUROPEAN REGIONMixed Allocation1100.98
countryUNITED KINGDOMEquity984.88
SizeSMALL-CAPEquity973.44
regionASIAN PACIFIC REGION EX JAPANFixed Income942.58
industryCOMMUNICATIONS SECTOREquity920.38
SizeMID-CAPEquity791.48
regionASIAN PACIFIC REGION EX JAPANMixed Allocation732.44
countryKOREAEquity488.14
countryAUSTRALIAFixed Income459.01
countryJAPANFixed Income412.15
countryBRAZILEquity262.49
CommoditiesPRECIOUS METAL SECTOREquity184.30
regionNORTH AMERICAN REGIONFixed Income95.19
segmentGCCMixed Allocation88.23
regionEASTERN EUROPEAN REGIONFixed Income53.58
segmentGCCFixed Income40.47
RiskGOVERNMENT BONDMixed Allocation26.24
countryPOLANDEquity16.97
segmentBRICFixed Income10.78
RiskGOVERNMENT BONDAlternative9.40
countryISRAELEquity7.04
SizeMID-CAPCommodity5.98
segmentEMEAFixed Income4.28
SectorAGRICULTUREEquity0.00
RiskGOVERNMENT BONDEquity-0.04
RiskLONG SHORTMixed Allocation-0.08
industryENERGY SECTORMixed Allocation-0.36
industryMULTIPLE SECTOREquity-0.72
CountryEGYPTEquity-1.12
countryAUSTRALIAMixed Allocation-1.71
regionEASTERN EUROPEAN REGIONMixed Allocation-1.90
segmentMENAFixed Income-1.90
countrySOUTH AFRICAEquity-2.00
CommoditiesINDUSTRIAL METALSCommodity-17.37
regionMIDDLE EAST REGIONFixed Income-18.11
countryJAPANMixed Allocation-22.86
segmentGCCEquity-24.18
segmentMENAEquity-34.15
RiskINFLATION PROTECTEDBrazil-34.69
countryCHINAFixed Income-50.18
segmentEMEAEquity-62.54
countryRUSSIAFixed Income-65.63
industryINDUSTRIAL SECTOREquity-83.58
countryINDIAFixed Income-84.00
SectorCONSUMER STAPLESEquity-88.82
industryREAL ESTATE SECTOREquity-128.77
regionAFRICAN REGIONEquity-135.16
regionMIDDLE EAST REGIONEquity-149.51
countryTURKEYEquity-196.67
SectorAGRICULTURECommodity-212.84
RiskLONG SHORTFixed Income-216.33
countryBRAZILFixed Income-228.60
countryAUSTRALIAEquity-236.51
regionEASTERN EUROPEAN REGIONEquity-257.54
SectorCONSUMER DISCRETIONARYEquity-300.94
regionLATIN AMERICAN REGIONEquity-381.82
countrySPAINEquity-415.80
segmentBRICEquity-417.41
regionLATIN AMERICAN REGIONFixed Income-576.34
CountryTAIWANEquity-821.37
regionNORTH AMERICAN REGIONEquity-1080.05
countryINDIAEquity-1437.73
industryENERGY SECTOREquity-1478.85
industryBASIC MATERIALS SECTOREquity-1541.48
segmentDEVELOPED MARKETSEquity-1547.72
countryRUSSIAEquity-1552.46
industryNATURAL RESOURCES SECTOREquity-1934.74
industryFINANCIAL SECTOREquity-1943.55
RiskLONG SHORTEquity-2103.18
regionNORDIC REGIONEquity-2198.98
RiskLONG SHORTAlternative-3170.50
RiskINFLATION PROTECTEDFixed Income-3603.68
countryCHINAEquity-3708.78
regionEUROPEAN REGIONFixed Income-4159.49
regionASIAN PACIFIC REGIONMixed Allocation-4364.67
regionASIAN PACIFIC REGION EX JAPANEquity-5056.51
regionASIAN PACIFIC REGIONEquity-5810.22
industryTECHNOLOGY SECTOREquity-5824.28
countryJAPANEquity-9902.24
regionEUROPEAN REGIONEquity-17833.28

Commodities Monthly Performance

NameUnitsLastPriceCurrencyMonthChange USDpct
RBOB Gasoline (Nymex)USd/gal.1.9982USD14.29
WTI Crude Oil (Nymex)USD/bbl.60.55USD13.03
NickelUSD/MT13085USD12.90
Palladium SpotUSD/t oz.1558.10USD12.45
ECX Emissions (ICE)EUR/MT28.29USD12.26
Lumber (CME)USD/1000 board feet355.80USD9.71
Heating Oil (Nymex)USd/gal.1.9850999999999999USD9.37
Coffee 'C' (ICE)USd/lb.1.0695000000000001USD8.47
Corn (CBOT)USd/bu.4.4775USD8.28
Crude Oil (Tokyo)JPY/kl42200.00JPY7.52
Soybean (CBOT)USd/bu.9.17USD7.41
Gold/British Pound SpotGBP/t oz.1124.11GBP7.32
Brent Crude (ICE)USD/bbl.66.91USD7.11
Gasoil (Nymex)USD/MT594.50USD6.78
Gold/Euro SpotEUR/t oz.1250.86EUR6.56
Kerosene (Tokyo)JPY/kl60200.00JPY6.55
Gold SpotUSD/t oz.1409.22USD6.09
Gold/Japanese Yen SpotJPY/t oz.152723.38JPY5.89
Gold (Comex)USD/t oz.1410.20USD5.88
Gold (Tokyo)JPY/g4895.00JPY5.79
Ethanol (CBOT)USD/gal.1.55USD5.44
Gold/Indian Rupee SpotINR/t oz.96429.88INR4.57
Silver/British Pound SpotGBP/t oz.12.08GBP4.23
Soybean Oil (CBOT)USd/lb.0.285USD4.17
Wheat (CBOT)USd/bu.5.2075USD3.53
Silver/Euro SpotEUR/t oz.13.44EUR3.46
Silver (Comex)USD/t oz.15.16USD3.34
Silver (Tokyo)JPY/g52.80JPY3.12
Silver SpotUSD/t oz.15.15USD3.06
3Mo Aluminum (LME)USD/MT1828.00USD2.99
Silver/Japanese Yen SpotJPY/t oz.1641.82JPY2.88
Live Cattle (CME)USd/lb.1.0933USD2.85
Platinum SpotUSD/t oz.825.97USD2.40
Soybean Meal (CBOT)USD/T.318.60USD2.15
Feeder Cattle (CME)USd/lb.1.4263USD2.01
Natural Gas (Nymex)USD/MMBtu2.41USD1.69
Rough Rice (CBOT)USD/cwt11.90USD1.45
3Mo Copper (LME)USD/MT5955.00USD1.38
Orange Juice (ICE)USd/lb.1.0255USD0.89
Copper (Comex)USd/lb.2.693USD0.43
Cocking CoalCNY/MT1374 CNY0.29
Sugar #11 (ICE)USd/lb.0.12380000000000001USD-0.16
Cocoa (ICE)USD/MT2491.00USD-0.48
3Mo Zinc (LME)USD/MT2428.00USD-1.94
SteelUSD/MT464USD-2.52
Cotton #2 (ICE)USd/lb.0.6331USD-3.71
Canola (ICE)CAD/MT445.40CAD-3.80
3Mo Tin (LME)USD/MT18345.00USD-4.65
Oats (CBOT)USd/bu.2.7875USD-5.51
Rubber (Tokyo)JPY/kg175.50JPY-14.31
Lean Hogs (CME)USd/lb.0.716USD-16.94

Commodities YTD Performance

NameUnitsLastPriceCurrencyYTDChange USDpct
RBOB Gasoline (Nymex)USd/gal.1.9982USD59.92
WTI Crude Oil (Nymex)USD/bbl.60.55USD41.77
Brent Crude (ICE)USD/bbl.66.91USD33.23
Crude Oil (Tokyo)JPY/kl42200.00JPY24.74
Palladium SpotUSD/t oz.1558.10USD24.16
Gasoil (Nymex)USD/MT594.50USD22.07
Ethanol (CBOT)USD/gal.1.55USD22.05
Kerosene (Tokyo)JPY/kl60200.00JPY21.01
Heating Oil (Nymex)USd/gal.1.9850999999999999USD19.92
NickelUSD/MT13085USD18.79
Lean Hogs (CME)USd/lb.0.716USD18.74
Corn (CBOT)USd/bu.4.4775USD18.53
Rough Rice (CBOT)USD/cwt11.90USD13.33
ECX Emissions (ICE)EUR/MT28.29USD12.35
Gold/British Pound SpotGBP/t oz.1124.11GBP12.15
Gold/Euro SpotEUR/t oz.1250.86EUR12.03
Gold SpotUSD/t oz.1409.22USD10.67
Gold (Comex)USD/t oz.1410.20USD10.52
Gold/Japanese Yen SpotJPY/t oz.152723.38JPY8.55
Gold (Tokyo)JPY/g4895.00JPY8.49
Gold/Indian Rupee SpotINR/t oz.96429.88INR8.22
Cocoa (ICE)USD/MT2491.00USD7.60
Lumber (CME)USD/1000 board feet355.80USD5.14
Coffee 'C' (ICE)USd/lb.1.0695000000000001USD4.65
Rubber (Tokyo)JPY/kg175.50JPY4.53
Platinum SpotUSD/t oz.825.97USD4.09
Silver/Euro SpotEUR/t oz.13.44EUR3.78
Silver/British Pound SpotGBP/t oz.12.08GBP3.34
Soybean (CBOT)USd/bu.9.17USD2.23
Soybean Meal (CBOT)USD/T.318.60USD2.18
Silver SpotUSD/t oz.15.15USD2.02
Soybean Oil (CBOT)USd/lb.0.285USD1.68
Silver (Comex)USD/t oz.15.16USD1.61
Copper (Comex)USd/lb.2.693USD1.47
Oats (CBOT)USd/bu.2.7875USD1.09
Wheat (CBOT)USd/bu.5.2075USD0.82
Silver (Tokyo)JPY/g52.80JPY0.76
Silver/Japanese Yen SpotJPY/t oz.1641.82JPY0.05
3Mo Copper (LME)USD/MT5955.00USD-0.01
Sugar #11 (ICE)USd/lb.0.12380000000000001USD-0.16
SteelUSD/MT464USD-0.22
3Mo Zinc (LME)USD/MT2428.00USD-1.86
Cocking CoalCNY/MT1374 CNY-1.93
Feeder Cattle (CME)USd/lb.1.4263USD-2.01
3Mo Aluminum (LME)USD/MT1828.00USD-3.43
3Mo Tin (LME)USD/MT18345.00USD-5.32
Canola (ICE)CAD/MT445.40CAD-7.88
Live Cattle (CME)USd/lb.1.0933USD-10.95
Cotton #2 (ICE)USd/lb.0.6331USD-12.74
Orange Juice (ICE)USd/lb.1.0255USD-19.85
Natural Gas (Nymex)USD/MMBtu2.41USD-32.30
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Strategy

Chart: Strategy , Emerging Markets Catching Up

Source: ML

Download All Slides in Power Point
  • Fed-Fueled Euphoria Won't Last in Emerging Markets, Analysts Say
  • Fear and loathing in emerging markets
  • Morgan Stanley Says It's Time to Buy Emerging-Market Currencies
  • Despite different commentaries, Infosys and TCS converge on target
  • Rand is trading on a knife's edge so expect the unexpected
  • CNBC's Tim Seymour Talks About Cannabis M&A, Private Vs. Public ...
  • A better second half anticipated

    Key Topics and News

    Key Equity Performance Summary
    Performance Summary By Country
    Tactical and Strategic Stance Explained
    Russia was the best market YTD Botswana is the worst
    Argentina the best Equity Market in June Pakistan is the worst in June
    Emerging Markets Outlook
    US Market Outlook
    European Markets Outlook
    Frontier Markets Outlook
    MSCI Word Outlook

    Recent Strategy Chart Art

    Strategy , Emerging Markets Catching Up

    Download file in Power Point
    Key Equity Performance Summary

    Download file in Power Point
    Performance Summary By Country

    Download file in Power Point
    Tactical and Strategic Stance Explained

    Download file in Power Point
    Russia was the best market YTD Botswana is the worst

    Download file in Power Point
    Argentina the best Equity Market in June Pakistan is the worst in June

    Download file in Power Point
    Emerging Markets Outlook

    Download file in Power Point
    US Market Outlook

    Download file in Power Point
    European Markets Outlook

    Download file in Power Point
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    Average Sovereign GEM Yields (USD)

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    Average Sov. Dev. Markets Yields (blended currency)

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    Average UST Yield

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    Average Sovereign Local Currency Yields (USD)

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    Choose A Country

    ARGENTINA: Investors warm to brighter signs from Argentina


    AUSTRALIA: Deutsche to shut down Australian equities, scale back other functions


    AUSTRIA: Austrian pension funds return 6.72% over H1 2019


    BAHRAIN: Kuwaiti Stocks End Longest Rising Run in Three Years: Inside EM


    BELGIUM: European stocks close higher on Lagarde's nomination as the next ...


    BRAZIL: Brazil Finally Delivered on Pensions. Now Comes Everything Else


    BRITAIN: Stocks End Record-Setting Week With Further Gains: Markets Wrap


    CANADA: CANADA STOCKS-TSX falls as energy, financial shares drop


    CHILE: Short Interest in Sociedad Quimica y Minera de Chile (NYSE:SQM ...


    CHINA: China's Stock Market Is Flashing Too Many Warning Signs


    COLOMBIA: GXG: Colombia Macro Outlook 2019


    CZECH: Czech Republic - Factors To Watch on July 12


    DENMARK: ​LD tenders DKK1bn Danish equities, 'many more' mandates to follow


    EGYPT: MIDEAST STOCKS-Banks boost Saudi, while wide sell-off weighs ...


    FINLAND: Why China Is a Bigger Problem for the Global Economy Than You ...


    FRANCE: French Stock Market Renaissance Not Yet in the Bag


    GERMANY: Deutsche Bank will exit global equities business and slash 18000 ...


    GREECE: World-Topping Greek Markets Await Big Vote Amid Hope for Change


    HONG KONG: Asia Stocks Mixed as China Growth Data Assessed: Markets Wrap


    HUNGARY: A Strong June Pulled Emerging Markets Up In The Second Quarter


    INDIA: India Equities Mark Worst Week in Two Months as Earnings Begin


    INDONESIA: Asia Stocks Mixed as China Growth Data Assessed: Markets Wrap


    IRELAND: Deutsche Bank to exit its equities business and post a €2.8bn net loss


    ISRAEL: Kuwaiti Stocks End Longest Winning Run in Three Years: Inside EM


    ITALY: Italy - Factors to watch on July 9


    JAPAN: Asia Stocks Mixed as China Growth Data Assessed: Markets Wrap


    KAZAKHSTAN: Kazakhstan's AIX introduces securities lending


    LEBANON: US stocks bob around record highs as trade euphoria eases


    MALAYSIA: Foreign buying of local equities narrowed to RM84.9m last week ...


    MEXICO: How to Buy Mexican Stocks


    NETHERLANDS: 73 acquisitions and disposals filed while 14 companies conduct ...


    NEW ZEALAND: The world's most expensive sharemarket is in New Zealand


    NIGERIA: Nigerian equities dip after Airtel listing


    NORWAY: Note to banks — You won't get Deutsche's capital dispensation


    OMAN: 88% of Middle East investors have exposure to China


    PAKISTAN: MSCI Disappoints Pakistan Traders Hoping for a Downgrade


    PERU: Peru Readies $27 Billion Infrastructure Plan to Shore Up Economy


    PHILIPPINES: Philippine Stocks Are on the Cusp of Entering a Bull Market


    POLAND: Hunting for Yield? Consider Emerging Europe


    PORTUGAL: Euro drops, global equities rise as ECB's Draghi hints of more stimulus


    QATAR: Banking, realty selling pressure weighs on Qatar shares


    QATAR: Banking, realty selling pressure weighs on Qatar shares


    ROMANIA: Hunting for Yield? Consider Emerging Europe


    RUSSIA: Russia's Dividend Season Opens as Investors Prepare for Record ...


    SINGAPORE: Singapore shares add 0.3% as Fed chief reaffirms dovish stance


    SOUTH AFRICA: South Africa's rand set for weekly gains, stocks flat


    SOUTH KOREA: Asia Stocks Mixed as China Growth Data Assessed: Markets Wrap


    SPAIN: UK firm with Spanish flavour goes on the hunt for undervalued stocks


    SWEDEN: Sweden's AP6 Gets a New Managing Director


    SWITZERLAND: The EU may be overplaying its hand in Swiss stock exchange ...


    TAIWAN: Asia Stocks Mixed as China Growth Data Assessed: Markets Wrap


    THAILAND: Second-half strategies


    TURKEY: Turkish Stock Traders Hedge for Losses After S-400 Delivery Starts


    UAE: UAE- Global stock markets sink


    UKRAINE: VEON (NASDAQ:VEON) Downgraded to “Hold” at Zacks Investment ...


    UNITED STATES: US Steel Has Significant Rebound Potential


    VIETNAM: Calls for insider traders to be dealt with criminally


    Comment

    Monthly performance is between 2019-07-01 and 2019-05-31

    Best global markets YTD USA +18.52%, EUROPE +13.41%, EM LATIN AMERICA +11.73%,

    While worst global markets YTD FM (FRONTIER MARKETS) 8.54%, EFM ASIA 9.45%, EM (EMERGING MARKETS) 10.15%,

    Best global markets last month USA +7.69%, EM LATIN AMERICA +6.83%, EUROPE +6.75%,

    While worst global markets last month FM (FRONTIER MARKETS) 1.86%, EFM ASIA 6.61%, EM (EMERGING MARKETS) 6.62%,
  • US stocks edge up to new records as investors eye earnings season
  • US Equities Outlook: Bulls Inspired By Resilient Economy
  • Does investing in emerging markets still make sense?
  • Good News and Bad News Make Emerging Markets a Short-Term ...
  • China Stocks Recover as Earnings, Economic Data Boost Sentiment
  • China's stocks rise as data shows lowest quarterly growth in 27 years
  • European Equities: Stats Out of China May Not Be Enough…
  • Investing In European Equities
  • Shale Investors Fear Bloodbath As Earnings Season Kicks Off
  • Libya's Oil Revenue Takes A Beating
  • Stop steel exports at lower than domestic price: Consumers ...
  • US Steel Companies Announce Price Hikes
  • Gold prices settle at nearly two-week peak
  • Gold prices fall, silver follows suit

    Best last month among various countries' equity markets were ARGENTINA +27.07%, JAMAICA +17.75%, TURKEY +14.33%, SINGAPORE +11.84%, THAILAND +10.50%, SWEDEN +10.34%, COLOMBIA +9.74%, ITALY +8.85%, RUSSIA +8.56%, CHINA +8.16%,

    While worst last month among various countries' equity markets were PAKISTAN -11.53%, BOSNIA AND HERZEGOVINA -7.59%, NIGERIA -4.39%, ZIMBABWE -3.87%, BULGARIA -3.50%, OMAN -2.69%, BOTSWANA -2.18%, HUNGARY -1.55%, UNITED ARAB EMIRATES -0.54%, KENYA -0.44%,

    Best YTD among various country equities were RUSSIA +29.96%, GREECE +29.06%, BAHRAIN +28.90%, ARGENTINA +27.63%, EGYPT +23.12%, JAMAICA +22.33%, KUWAIT +21.11%, SWITZERLAND +19.61%, CANADA +19.22%, NETHERLANDS +19.04%,

    While worst YTD among various country equities were BOTSWANA -21.00%, PAKISTAN -16.78%, NIGERIA -14.51%, LEBANON -13.16%, BULGARIA -8.82%, SERBIA -8.58%, SRI LANKA -8.08%, OMAN -7.84%, QATAR -5.19%, CHILE -3.49%,
    Chose Your Country



    News

    Best 10 Markets Last Month


    ARGENTINA 27.07%

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  • Fernando de la Rúa, Ill-Fated President of Argentina, Dies at 81
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  • Brazil's Bolsonaro Backs Macri for Re-Election in Argentina
  • Marriott to Open W Hotel in Argentina, Eyes Revenue Growth
  • World's population is projected to nearly stop growing by the end of ...
  • EIA: Growth in Argentina's Vaca Muerta shale, tight gas production ...
  • Argentina and Uruguay Work to Restore Power After Major Electrical ...
  • Puerto Rico's Bankruptcy Plan Is Almost Done, and It Could Start a ...

    JAMAICA 17.75%

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  • Sepp Haidacher - "Godfather" of Jamaica bobsleigh - dies at age of 78
  • Thousands attend funeral of former Jamaican Prime Minister ...
  • Jamaica once couldn't pay its light bill. Now its economy is ...
  • Unit trust market grows to nearly $300b - Investors demanding ...
  • Blockchain Releases Farmers From the Collateral Trap
  • Growth & Jobs | Manufacturers seek to increase exports to regional ...
  • Infrastructure Expenditures To Narrow Jamaica's Fiscal Surplus
  • Infrastructure Expenditures To Narrow Jamaica's Fiscal Surplus

    TURKEY 14.33%

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  • Exclusive: Controversial Turkish president Erdogan will visit ...
  • S-400 and More: Why Does Turkey Want Russian Military ...
  • Turkey's Long, Painful Economic Crisis Grinds On
  • Turkey needs macro reforms for future: TÜSİAD head
  • Overpopulation remains one of the greatest threats to global stability
  • Turkey's exports hit record $88.2 billion in first half of 2019
  • Turkey's budget posts $11.9B deficit in Jan-May
  • Fitch downgrades Turkey's debt after central bank chief dismissal

    SINGAPORE 11.84%

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  • President expresses appreciation to Merdeka Generation servicemen
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  • Singapore economic growth slows to 0.1% in Q2, lowest in a decade
  • Global strategy underpins Singapore's foreign investment growth
  • The Big Read: Strides made, but some way to go for Government to ...
  • Singapore's economy experiences slowest growth in a decade
  • 1.7M Singaporeans will receive S$1B in GST vouchers and ...
  • Chinese power service provider eyeing Hyflux assets

    THAILAND 10.50%

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  • Stock Exchange of Thailand's President on Foreign Inflows, IPOS ...
  • Thailand's Prime Minister Prayuth Chan-Ocha Names a New Cabinet
  • Citibank predicts 3.3% Thai economic growth this year
  • Top Thai Bank's Digital Platform to Drive Loan Growth Surge
  • How Does The Population Grow So Quickly?
  • Thai baht races ahead of Prayuth's slow progress
  • Thai Airways losses narrow on asset sales, eyes maintenance ...
  • Singapore: A golden treasure of ASEAN

    SWEDEN 10.34%

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  • State. Dept. urges Sweden to treat arrested rapper ASAP Rocky fairly
  • Nine skydivers die as Australian-made plane crashes in Sweden
  • Nordic Economics Explained: The Difference Between ...
  • Exclusive: Sweden's EQT targets Asia Pacific as IPO decision looms
  • Brown bear population dips in Finland
  • May exports up 8 percent, imports 3 percent on year
  • Sweden Touts 'Incredibly Strong' Jobs Market Before New Forecast
  • Sweden's Vanishing Debt Feeds Urgent Calls for a Spending Boom

    COLOMBIA 9.74%

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  • BelloCan Colombia's President Iván Duque find his feet?
  • Colombian bishop hopes holy water will curb city's crime
  • Economic Growth Will Pick Up In Colombia Despite External ...
  • UK and Colombia mark new climate partnership with £8.5 million ...
  • The complications of the climate breakdown, having babies, and ...
  • Economic Growth Will Pick Up In Colombia Despite External ...
  • Colombia proposes spending cuts to make up budget shortfall
  • Debt Collection Software Market to Perceive Robust Expansion by ...

    ITALY 8.85%

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  • Italy's Donald Trump
  • Italy's Donald Trump
  • News analysis: Bank of Italy lowers economic growth prediction ...
  • Italy business outlook improves sharply in second quarter, survey ...
  • Italy registers lowest number of births since at least 1861
  • UniCredit bank promoting Chinese-Italian co-operation
  • Italy insists it's 'on track' to avoid EU budget fines
  • EU Commission to delay decision on Italy debt: EU official

    RUSSIA 8.56%

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  • Georgia's President Salome Zurabishvili: 'We are used to tension ...
  • Salvini Struggles to Contain Fallout From Russia Funding Report
  • Putin Doesn't Care About Economic Growth
  • Against the sanctions run of play: German investments in Russia set ...
  • UN Predicts Russia's Population Could Halve By 2100
  • Apparel exports to non-traditional markets post 21.77% growth
  • Russia budget surplus totals 3.1 pct of GDP in first half of 2019
  • Fed chair Powell becoming central banker to the world

    CHINA 8.16%

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  • Chinese President Xi Jinping and PM Modi to meet in Varanasi on ...
  • Australia must prepare for a Chinese military base in the Pacific
  • China second-quarter GDP growth set to slow to 6.2%, 27-year low ...
  • China's Economic Growth Slows as Trade War With US Deepens
  • 'Set your ovaries free:' Tanzania leader seeks population growth
  • China posts its lowest quarterly growth in 27 years as the trade war ...
  • Kyle Bass: Investors Should Expect More China Tariffs, Here's How ...
  • IMF approves Congo Republic bailout after China debt deal

    Worst 10 Market Last Month


    PAKISTAN -11.53%

  • macro strategy bonds quick news
  • Pakistan PM Imran Khan hit by strikes over IMF programme
  • Pakistani PM Imran Khan draws ire over taxes, rising inflation
  • A ready reckoner on what the IMF wants from Pakistan
  • Pakistan PM Imran Khan hit by strikes over IMF programme
  • The UK is committed to support Pakistan's plan to manage ...
  • Pakistan PM Imran Khan hit by strikes over IMF programme
  • Budget 2019-20 Resembles Historic Financial Plans
  • IMF Won't Stop China From Turning Pakistan Into The Next Sri Lanka

    BOSNIA AND HERZEGOVINA -7.59%

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  • Erdogan Attends Commemoration for Srebrenica Victims in Bosnia ...
  • Trial Judgment revoked in the Case of Former Deputy Prime Minister ...
  • Bosnia-Herzegovina's Telecoms, Mobile & Broadband Markets 2019 ...
  • EIB pledge for the Western Balkans: Investments in competitiveness ...
  • Bosnia and Herzegovina: Population Movement Information Bulletin
  • Three Million Euros for Micro, Small and Medium-sized Enterprises ...
  • Bosnia's Serb Republic raises pensions by 2%
  • Croatian Government issues a Press Statement of Concern of ...

    NIGERIA -4.39%

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  • Ministerial list: I Will Appoint Only People I know, Says Nigeria ...
  • Algeria charter planes to carry fans for African Cup semi-final
  • To Spur the Economy, Nigeria Orders Banks to Loan More Money
  • South Africa Nigeria Investment Conference
  • Africa to propel world's population towards 10bn by 2050
  • Economic growth: Total Plc calls for use of local content
  • Nigeria: Low Oil Price Threatens Nigeria Budget, Revenue
  • Nigeria: Atiku Decries Nigeria's Debt Profile

    ZIMBABWE -3.87%

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  • Zimbabwe president says needs to import 800000 tonnes of maize ...
  • Former British PM Tony Blair 'keen to meet Zimbabwe's Mnangagwa'
  • 'Multi-currency stifled Zimbabwe economic growth'
  • Zim goes a gear up in drive to boost tourism
  • Decisions on jumbos must factor in communities
  • Government targets export led industrialisation
  • Zimbabwe Forges Ahead With Reform Programme
  • Zimbabwe: Shambles Rock Govt Over Domestic Debt

    BULGARIA -3.50%

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  • Bulgarian government proposes state honour for Bulgarian Jewish ...
  • New Balkan Diplomatic Scandal Involving Bulgarian PM Borisov
  • Bulgaria's GDP Grew by 3.3%
  • EU summer forecast leaves Bulgaria 2019 growth estimate ...
  • The Slippery Slope of Negative Population Growth
  • In January - April 2019 Bulgarian Exports to the EU Grew by 7.3%
  • Bulgaria plans small fiscal deficit in 2019, boosts wages
  • CEZ agrees to sell Bulgarian assets to Eurohold for EUR 335 million

    OMAN -2.69%

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  • Australian PM accepts Trump's dinner invitation
  • Mossad chief declares Israel renewing Oman ties; Foreign Ministry ...
  • IMF slashes Oman's 2019 economic growth forecast to 0.3%
  • OAB signs pact with IDO Investments to foster FinTech growth
  • The 30 biggest population shifts in recent history
  • Growing trade with Qatar boosts Oman's non-oil exports
  • UPDATE 1-Oman slows spending growth in 2019 budget, may not ...
  • Reforms 'key to easing Oman debt'

    BOTSWANA -2.18%

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  • Akufo-Addo named Africa's best president
  • Rwandan President Paul Kagame Receives Botswana's Highest ...
  • Botswana resort town seeks partnership with Chinese companies as ...
  • DeVere's Botswana office celebrates 10 years
  • Decisions on jumbos must factor in communities
  • Exporters should leverage on Zimbabwe's central location
  • Botswana Telecoms, Mobile and Broadband Market 2019-2023 ...
  • Botswana: Development of Local Currency Bond Market Vital

    HUNGARY -1.55%

  • macro strategy bonds quick news
  • Hungary's president OKs govt takeover of research
  • Orbán deploys Christianity with a twist to tighten grip in Hungary
  • Finance Minister: Hungary's GDP Growth Surpasses EU Expectations
  • EC raises Hungary 2019 GDP growth forecast to 4.4%
  • The 30 biggest population shifts in recent history
  • EC raises Hungary 2019 GDP growth forecast to 4.4%
  • Parliament Approves 2020 Budget
  • Hungary debt agency bought back 2019/A bonds to ease liquidity ...

    UNITED ARAB EMIRATES -0.54%

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  • MENA fund managers continue to increase investments in Kuwait ...
  • The 30 biggest population shifts in recent history
  • Forget The US: Nine New Markets For British Exporters Post Brexit
  • IMF approves $6bn Pakistan bailout package after austerity budget
  • United Arab Emirates: Debt Recovery In UAE

    KENYA -0.44%

  • macro bonds quick news
  • Kenya's president blunt on scourge of al-Shabab: 'I would be lying to ...
  • Kenya must have an opposition, Jubilee MPs tells Muthaura
  • Kenya's Q1 economic growth slows, hurt by agriculture
  • US blames corruption for slowing down foreign investments in Kenya
  • Exponential population growth could put a strain on Kenya's ...
  • Kenya to focus on Africa to drive export growth
  • Kenya budget proposes new tax on digital economy, capital gains ...
  • Why MPs bear huge blame for Kenya's debt problems

    Top 10 Longs Based on Momentum

    tickernamecountrysectorPeriodChange
    WDCWESTERN DIGITAL CORPUnited StatesInformation Technology46.29
    2331LI NING LTDChinaConsumer Discretionary44.23
    SUPVGRUPO SUPERVIELLE ADR REPRESENTINGArgentinaFinancials40.72
    BRFS3BRF BRASIL FOODS SABrazilConsumer Staples39.05
    GGALGRUPO FINANCIERO GALICIA ADR REPTGArgentinaFinancials38.64
    DATATABLEAU SOFTWARE INC CLASS AUnited StatesInformation Technology37.04
    PAMPAMPA ENERGIA ADR REPSG SAArgentinaUtilities35.96
    SYMCSYMANTEC CORPUnited StatesInformation Technology34.73
    NIONIO AMERICAN DEPOSITARY SHARES REPChinaConsumer Discretionary33.33
    BMABANCO MACRO ADR REPRESENTING TEN SArgentinaFinancials32.86

    Top 10 Shorts Based on Momentum

    tickernamecountrysectorPeriodChange
    BRESBARWA REAL ESTATEQatarReal Estate-90.08
    CBQKCOMMERCIAL BANK OF QATARQatarFinancials-90.07
    MPHCMESAIEED PETROCHEMICAL HOLDINGQatarMaterials-90.06
    QEWSQATAR ELECTRICITY AND WATERQatarUtilities-90.00
    QATIQATAR INSURANCEQatarFinancials-89.93
    IQCDINDUSTRIES QATARQatarIndustrials-89.89
    QIBKQATAR ISLAMIC BANKQatarFinancials-89.87
    MARKMASRAF AL RAYANQatarFinancials-89.67
    QNBKQATAR NATIONAL BANKQatarFinancials-89.66
    QFLSQATAR FUELQatarEnergy-89.64

    Z-rankings Methodology - Top Global Long Picks

    TickerCompanySectorPE RATIO
    2016
    PE RATIO
    2017
    PE RATIO
    2018
    EV/EBITDA
    2016
    EV/EBITDA
    2017
    EV/EBITDA
    2018
    P/S
    2016
    P/S
    2017
    P/S
    2018
    P/B
    2016
    P/B
    2017
    P/B
    2018
    DIVIDEND YIELD
    2016
    DIVIDEND YIELD
    2017
    DIVIDEND YIELD
    2018
    GROSS MARGIN
    2016
    GROSS MARGIN
    2017
    GROSS MARGIN
    2018
    ROA
    2016
    ROA
    2017
    SNC CN zranksSNC-Lavalin Group IncIndustrials27.228.7181.118.715.20.01.00.81.02.21.92.21.81.92.114.29.35.62.63.3
    AIR FP zranksAirbus SEIndustrials48.727.221.312.610.87.10.71.01.131.16.06.72.21.82.07.911.613.80.92.2
    SWMA SS zranksSwedish Match ABConsumer Staples10.617.116.98.913.013.43.54.75.00.00.00.02.92.93.046.562.962.734.023.7
    CLX US zranksClorox Co/TheConsumer Staples28.224.621.516.114.715.13.12.92.960.331.723.82.32.42.745.144.743.714.915.4
    HCLT IN zranksHCL Technologies LtdInformation Technology14.515.615.011.111.510.22.62.52.73.83.73.52.71.20.90.00.035.020.118.6
    NWL US zranksNewell Brands IncConsumer Discretionary16.839.75.321.424.60.01.41.01.61.91.11.51.72.95.033.234.234.92.68.2
    CHTR US zranksCharter Communications IncConsumer Discretionary15.097.844.714.710.28.82.11.52.11.92.11.80.00.00.052.452.251.93.76.7
    CCK US zranksCrown Holdings IncMaterials13.713.39.59.510.19.20.90.50.920.112.66.00.00.00.017.616.615.25.13.2
    DIGI MK zranksDiGi.Com BhdTelecommunication Services23.026.822.713.314.512.45.75.46.372.376.452.04.33.74.475.176.176.332.126.1
    LPPF IJ zranksMatahari Department Store Tbk PTConsumer Discretionary21.915.314.915.110.37.84.51.62.923.812.58.83.24.66.062.862.562.346.237.1

    Z-rankings Methodology Top Short Picks

    TickerCompanySectorPE RATIO
    2016
    PE RATIO
    2017
    PE RATIO
    2018
    EV/EBITDA
    2016
    EV/EBITDA
    2017
    EV/EBITDA
    2018
    P/S
    2016
    P/S
    2017
    P/S
    2018
    P/B
    2016
    P/B
    2017
    P/B
    2018
    DIVIDEND YIELD
    2016
    DIVIDEND YIELD
    2017
    DIVIDEND YIELD
    2018
    GROSS MARGIN
    2016
    GROSS MARGIN
    2017
    GROSS MARGIN
    2018
    ROA
    2016
    ROA
    2017
    RMH SJ zranksRMB Holdings LtdFinancials10.610.512.10.00.00.00.00.00.02.12.02.35.25.64.60.00.00.019.919.7
    INCY US zranksIncyte CorpHealth Care164.60.072.092.30.065.917.07.212.645.112.37.00.00.00.094.794.895.07.9-15.9
    EOG US zranksEOG Resources IncEnergy0.098.015.727.415.77.07.43.05.54.23.82.60.70.60.924.047.860.8-3.98.7
    NPN SJ zranksNaspers LtdConsumer Discretionary392.563.026.90.00.00.012.230.335.35.84.13.60.60.50.641.436.936.112.139.6
    ITSA4 BZ zranksItausa - Investimentos Itau SAFinancials7.510.910.7221.1152.286.613.118.817.91.31.71.86.17.41.922.326.125.414.413.2
    QRVO US zranksQorvo IncInformation Technology465.997.732.611.511.410.02.92.93.01.81.92.00.00.00.037.438.638.7-0.3-0.6
    NFLX US zranksNetflix IncConsumer Discretionary287.9143.899.9125.595.473.16.07.47.119.923.222.30.00.00.029.131.336.91.63.4
    VET CN zranksVermilion Energy IncEnergy0.093.622.916.210.96.27.32.95.44.23.61.64.65.79.470.772.271.1-3.91.5
    CREE US zranksCree IncInformation Technology0.00.00.013.215.30.01.53.21.71.01.12.30.00.00.030.129.527.3-0.8-3.6
    IOI MK zranksIOI Corp BhdConsumer Staples43.441.923.216.419.518.92.33.93.93.83.83.10.82.14.520.426.423.53.74.2

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