International Investing

Today’s WSJ has the story. The other surprise here is the large equity decline in China and India:
…the only booming stock markets are those in the most emerging of emerging markets: Pakistan, Peru, and Chile. Those stocks markets have risen, respectively, 9.5%, 7.1%, and 6.6% this year, according to data provided to Deal Journal by [...]

Electricity supply problems in South Africa are exacerbating supply problems for this precious white metal. Great news for those long Palladium, but awful news for GM and the other auto manufactures:
The platinum and palladium mines are shuttering in, fearful of sending miners miles under-ground and at the mercy of “load shed” power supplies. This problem [...]

From the FT:
The Morgan Stanley Capital International Asia-Pacific ex-Japan index struck a record high as both Hong Kong and Sydney climbed to new peaks and Singapore closed at its best level for two months.
The MSCI emerging market equity index also broke into uncharted territory as it recouped all the losses incurred during the credit squeeze [...]

FT reports on this long over-due instrument:
Investors who fear that high diamond prices may not be forever will soon have help at hand.
Bankers and diamond experts are to launch two initiatives in the coming days to create the world’s first derivatives contracts linked to diamond prices.
The move could inject new price clarity into the diamond [...]

From the Boston Globe:
Crude oil in New York approached $70 a barrel for the first time since September after Nigerian unions planned a strike this week, threatening supplies from Africa’s biggest oil producer.

Is…..Zimbabwe! The Daily Reckoning explains this purely monetary phenomena:
The Zimbabwe Stock Exchange (the ZSE) is the best performing stock exchange in the world, with the key Zimbabwe Industrials Index up some 595% since the beginning of the year and 12,000% over twelve months. This jump in share prices is far in excess of increases in [...]

Is this the start of the PC bond market? The pitch should focus on the social good the money will buy - at B+ no one will be bragging about the finances:
The Republic of Ghana is likely to blaze a trail through financial markets this year by becoming the first west African sovereign state to [...]