Daily Strategy

April 26, 2016

MidLincoln Research

Morning Meeting

BIG Data Global Investment Strategy with focus on GEMs

Market Stats Changes between Monday Morning and today

                                     
Indexes
Currencies
Commodities
Rates

Index Performance

Changes between 2016-04-25 and 2016-04-26
NdexLastWkChPct
Karachi Stock Exchange KSE100 33970.991.14
Korea Stock Exchange KOSPI Ind2019.630.25
FTSE/JSE Africa All Share Inde52985.310.11
Shanghai Stock Exchange Compos2944.1470.02
Mexican Stock Exchange Mexican45581.2-0.07
Dow Jones Industrial Average17977.24-0.15
S&P BSE SENSEX Index25676.2-0.18
S&P 500 Index2087.79-0.18
Nikkei 22517353.28-0.36
Russian Trading System Cash In927.66-0.41
S&P/TSX Composite Index13795.99-0.56
MICEX Index1955.47-0.60
Warsaw Stock Exchange WIG Tota48139.15-0.63
Deutsche Boerse AG German Stoc10294.35-0.76
FTSE 100 Index6260.92-0.78
Borsa Istanbul 100 Index85109.37-0.84
Hong Kong Hang Seng Index21190.81-0.89
Jakarta Stock Exchange Composi4805.459-1.56
Russian Depositary Index USD1082.35-1.76
Ibovespa Brasil Sao Paulo Stoc51861.71-1.98

Weekly Currency Performance
CurrencyLastWkChPct
USDRUB66.59780.59
USDKRW1151.010.25
USDZAR14.4670.15
USDINR66.72380.04
USDPKR104.8050.04
USDCAD1.2677-0.03
USDAUD1.2967-0.04
USDKZT333.23-0.07
USDAZN1.5016-0.09
USDTRY2.845-0.14
USDCNY6.4935-0.17
USDEUR0.8874-0.21
USDBRL3.5582-0.23
USDLVL0.6236-0.24
USDJPY110.87-0.24
USDNOK8.2129-0.38

Weekly Commodities Performance
nameunitsPriceWeekCh
SugarUSD/LB.15.892.71
CattleUSD/LB.116.601.70
CornUSD/BU.380.501.67
RiceUSD/CWT11.141.64
SoybeansUSD/BU.1006.501.59
COCOAUSD/MT3167.000.38
PlatinumUSD/T OZ.1011.210.34
OIL BrentUSD/BBL.44.620.22
CoffeeUSD/LB.123.550.16
WheatUSD/BU.476.500.16
GOLDUSD/T OZ.1235.670.03
OatsUSD/BU.206.00-0.36
HogsUSD/LB.78.45-0.48
CopperUSD/MT4998.00-0.66
PalladiumUSD/T OZ.597.67-0.67
SilverUSD/T OZ.16.93-0.76
NATURAL GAS (NYMEX)USD/MMBTU2.07-4.17

Weekly Bond Rates Performance Change in btps
countryyieldWk1m1y
HONG KONG 1.39%13 +15 --
GREECE 8.28%7 -22 -412
ITALY 1.51%4 +22 +8
JAPAN ?� -0.08%4 +3 --
CANADA 1.54%3 +27 +10
FRANCE 0.59%3 +5 +17
SPAIN 1.62%3 +10 +24
NETHERLANDS 0.46%3 +6 +16
AUSTRALIA ?� 2.66%3 +10 --
NEW ZEALAND 2.88%3 -14 --
UNITED STATES ?� 1.89%2 0 --
GERMANY ?� 0.25%2 +7 +10
SWITZERLAND -0.29%2 +9 -14
UNITED KINGDOM ?� 1.61%1 +16 -4
PORTUGAL 3.27%1 +33 +131
INDIA 7.47%1 -4 -32
SOUTH KOREA 1.82%0 -1 -47
SINGAPORE 1.96%-1 +1 -16
MEXICO 5.87%-3 -19 +11
BRAZIL 12.77%-20 -138 +18

                         

                                   

Source: Midlincoln Research


Economic recovery among MENAP oil importers, meanwhile, remains fragile and uneven. Growth is projected to slow to 3.5 percent in 2016 because of adverse spillovers from slowing growth in oil-exporting neighbors and intensifying regional conflicts. It is crucial that all countries step up their efforts to design and implement reforms.. said IMF Director Masood Ahmed



Market Comment  Political & Economic News   Today's Economic Events   Today's Stock Results   Recent ML Reports  

Key Comment



Pakistan stocks start week stronger

Best since the start of the week among various stock markets was Karachi Stock Exchange KSE100 +1.14%, Korea Stock Exchange KOSPI Ind +0.25%, FTSE/JSE Africa All Share Inde +0.11%, Shanghai Stock Exchange Compos +0.02%,

While worst since the start of the week among various stock markets was Ibovespa Brasil Sao Paulo Stoc -1.98%, Russian Depositary Index USD -1.76%, Jakarta Stock Exchange Composi -1.56%, Hong Kong Hang Seng Index -0.89%,

Best week to date in FX space vs. greenback was USDNOK +0.38%, USDLVL +0.24%, USDJPY +0.24%,

While worst week to date in FX space vs. greenback was USDRUB -0.59%, USDKRW -0.25%, USDZAR -0.15%,

Best among commodities versus last Friday close was Sugar +2.71%, Cattle +1.70%, Corn +1.67%,

While worst among commodities versus last Friday close was NATURAL GAS (NYMEX) -4.17%, Silver -0.76%, Palladium -0.67%,

Best among bonds since week to date week was BRAZIL +20bpts, MEXICO +3bpts,

While worst among bonds since week to date week was HONG KONG -13bpts, GREECE -7bpts,

News


Turkey
  • Turkey's President Erdogan is crushing dissent. As protectors of .../.../
  • Turkey at Center of the Storm as Merkel Visits Refugee Camp/.../
  • IMF report indicates economic growth in Turkey/.../
  • Turkey needs to be more predictable, transparent to attract .../.../
  • Local turkey hunter sees population down/.../
  • U.S. Livestock, Dairy & Poultry Outlook - 4/18/16/.../
  • Turkey's budget deficit at $2.4 billion in March/.../
  • Comment: Foreign capital could be the answer to Turkey's debt woes/.../
    Brazil
  • Brazilian Vice President Michel Temer: I want to regain the people's .../.../
  • A Wind of Change ??� Iceland, Brazil, UK, France, USA/.../
  • Economic backgrounder/.../
  • Gerdau: A Study In Risk Vs. Opportunity/.../
  • The real reason Dilma Rousseff's enemies want her impeached/.../
  • Mark Dow's Emerging Market Play/.../
  • Brazil's Rousseff Strikes Cautious Tone on Impeachment at UN/.../
  • Once-Popular Brazil Bonds Are Now Unloved Relic of Currency Wars/.../
    Russia
  • President Hillary? If you think Russian-American relations are bad .../.../
  • How Ukraine's new prime minister can put Kiev on a European path/.../
  • Russia's economic growth for the year 2016/.../
  • Belarus, Russia to coordinate macroeconomic scenarios/.../
  • Russia's new human rights ombudswoman and Savchenko's future/.../
  • Turkey: The Banking Sector Needs Profitability-Enhancing Reforms/.../
  • Ruble Gains for Fourth Week on Exporter Tax Boost and $45 Crude/.../
  • Russia's debt collectors turn violent as recession leaves 11.5m in debt/.../
    China
  • President Xi Jinping's Most Dangerous Venture Yet: Remaking .../.../
  • Prime Minister on Chinese investment/.../
  • China's Economy Seems to Be Recovering Faster/.../
  • Alibaba payment arm valued at $60B after record-breaking $4.5B .../.../
  • China Population Growth Slows Down as Number of Elderly Increases/.../
  • China's Exports Jump Most in a Year, Boosting Growth Outlook/.../
  • Without Legacy China Budget Airlines Gain on `Big Three'/.../
  • Moody's reckons China's debt buildup won't spark a 2008-style .../.../
    South Africa
  • South African President Visits Iran, Praises 1979 Revolution While .../.../
  • South Africa: Minister Rob Davies - Trade and Industry Dept Budget .../.../
  • South Africa: DTI Training in China to Benefit SA's Economic Growth/.../
  • South Africa's investment climate even riskier now/.../
  • South Africa Bars Four Sports Federations From Bidding for Events/.../
  • Secret Allure Of South Africa/.../
  • South Africa: Budget 2016 - More Revenue a Must or SA Heads to .../.../
  • Investors Looking Beyond Zuma Load Up on South African Debt/.../
    Australia
  • France wins $40-billion contract from Australia; will build 12 .../.../
  • French shipbuilder DCNS wins $50 billion Australian submarine .../.../
  • Budget 2016: Economic forces to deliver blow, Scott Morrison warns/.../
  • Investment Attraction Agency finally has a board/.../
  • Biting into ageing issue/.../
  • Foreign capital vital to expanding food exports/.../
  • Australia's budget problem, in four powerful words/.../
  • Australia's Debt Dilemma Raises Downgrade Fears/.../
    Korea
  • FIFA President in Korea Republic and Thailand/.../
  • Icelandic PM resigns over Panama Papers scandal/.../
  • S. Korea's economic growth slows in Q1: BOK/.../
  • South Korea's Overseas Investment Hit Record High/.../
  • World Malaria Day: five challenges in the fight against the disease/.../
  • South Korea's GDP slows down in Q1/.../
  • (LEAD) N. Korea to spend 15.8 pct of this year's budget on defense/.../
  • Election Rout May Scuttle Call for Bank of Korea Debt Buying/.../
    India
  • Indian President to visit NZ/.../
  • Prime Minister Narendra Modi Is Still the Best Bet for India/.../
  • Economic growth is growth of Indian cities/.../
  • TPG Group changes India investment approach/.../
  • Here's Why India Is About to Become the World's Most Important .../.../
  • Who killed Indian exports?/.../
  • Poor asset quality of public sector banks main risk to India's .../.../
  • Foreigners Sell Most India Debt in a Month as Yield Benefit Ebbs/.../
    Canada
  • Jorge Bernhard Elected as New Equine Canada President/.../
  • 'I am outraged' says Prime Minister Trudeau after Canadian John .../.../
  • Canada's economy looks rosier (but for a spoiler this week)/.../
  • iNovia Capital Strengthens Western Canada Investment Team/.../
  • Canadians are creative, and here's why/.../
  • Exports to grow 2% in 2016 thanks to auto, aerospace and .../.../
  • Canada budget reveals revenue agency holding back on BEPS/.../
  • Daphne Bramham: Challenging frequent flyers to help refugees .../.../

    Econ Events Today


    2016-04-26 Korea GDP Growth Q1
  • S. Korea's economic growth slows in Q1: BOK
  • Q1 2016 - A Tale Of 2 Halves
  • Top foreign and local stories at 4pm
  • Int'l Investment Banks Lowering Korean Economic Growth Rate ...


    2016-04-26 Canada Bank of Canada POloz Speaks
  • BRIEF-Bank of Canada's Poloz speaks before Senate committee
  • BRIEF-Bank of Canada's Poloz speaks before Senate committee
  • Bank of Canada's Poloz Sees Three-Year Adjustment to Oil Price Drop
  • BRIEF-Bank of Canada's Poloz speaks before finance committee


    2016-04-26 Russia Business Confidence
  • Women entrepreneurs have found a creative way to stand out from ...
  • Chopping and changing economic policies behind SA's ratings woes
  • Fed Meeting, U.S. GDP, Primaries, Brazil: Week Ahead April 25-30
  • 'Après moi, le deluge': The Trump 'Hundred Days'



    Econ Events Yesterday


    2016-04-25 Turkey Business Confidence
  • Theresa May: UK should quit European Convention on Human Rights
  • Lessons Learned From a Grand American Gamble

    Results


    Our Recent Research Reports

  • 2016-04-25 ML Weekly
  • 2016-04-25 Financial Infrastructure Cos Index
  • 2016-04-25 Russian Dividend Index
  • 2016-04-25 Global Dividends Index
  • 2016-04-25 Global Dividends Index
  • 2016-04-24 Russia Index
  • 2016-04-24 Brazil Index
  • 2016-04-24 India Index
  • 2016-04-24 India Index
  • 2016-04-24 China Index
  • 2016-04-24 China Index
  • 2016-04-24 Turkey Index
  • 2016-04-24 South Africa Index
  • 2016-04-24 Korea Index
  • 2016-04-24 Korea Index
  • 2016-04-24 ML Australia Basket
  • 2016-04-24 ML Canada Basket
  • 2016-04-22 ML Morning Meeting
  • 2016-04-22 ML Commodities Weekly
  • 2016-04-22 OrientRay.com Alternative Energy Index
  • 2016-04-21 MidLincoln GEMs Fixed Income Queries and Stance Weekly
  • 2016-04-21 ML Morning Meeting

    Select Equity Data Snapshot


    Select FI Data Snapshot

    Top 20 GEM Sovereign Bonds Yields Climbs Change USD Eurobonds (Losers) Weekly

    BondCountryYieldYield Change % pts
    1MDB GLOBAL INVESTMENTS LTD 23Malaysia6.991.31
    BLK CSH FND TREASURY SL AGENCY -United States0.280.28
    COMISION FEDERAL DE ELECTRICIDAD RegS 21Mexico3.920.23
    PETROLEOS MEXICANOS 18Mexico3.030.18
    UKRAINE (GOVERNMENT OF) RegS 19Ukraine9.880.12
    POWER SECTOR ASSETS AND LIABILITIE RegS 19Philippines1.880.12
    IRAQ (REPUBLIC OF) RegS 28Iraq11.660.11
    UKRAINE (GOVERNMENT OF) RegS 23Ukraine9.490.10
    UKRAINE (GOVERNMENT OF) RegS 22Ukraine9.470.09
    MAJAPAHIT HOLDING BV RegS 20Indonesia3.730.09
    UKRAINE (GOVERNMENT OF) RegS 20Ukraine9.600.08
    ECUADOR (REPUBLIC OF) RegS 24Ecuador11.610.06
    UKRAINE (GOVERNMENT OF) RegS 21Ukraine9.460.06
    POLAND (REPUBLIC OF) 19Poland1.930.05
    SINOPEC GROUP OVERSEAS DEVELOPMENT RegS 20China2.520.05
    PETRONAS CAPITAL LTD. RegS 22Malaysia2.760.05
    SINOPEC GROUP OVERSEAS DEVELOPMENT RegS 22China2.990.05
    AMBER CIRCLE FUNDING LTD RegS 22China2.660.05
    HUNGARY REPUBLIC OF (GOVERNMENT) 23Hungary3.630.04
    PETRONAS CAPITAL LTD. MTN RegS 25Malaysia3.150.04


    Good luck! And don’t stay out of the market for too long. As the policy of being too cautious is the greatest risk of all.

    Ovanes Oganisyan

    research@midlincoln.com

  •  April 26, 2016· Midlincoln Research · midlincoln.com