Weekly Capital Markets Newsletter 17th - 21st of March 2019

1. ‫المالية‬ ‫والمؤسسات‬ ‫واالستثمارات‬ ‫للخزينة‬ ‫األهلي‬ ‫مجموعة‬
Ahli Treasury, Investments & Financial Institutions Group
1
INVESTMENT ‫استثمار‬
Financial -0.77% 2,722.36
Services -1.73% 1,287.95
Industrial -1.10% 1,943.65
JOD 16.39 Bn 1.69% 2.71%
1.10 0.00
1.10 1.08 185,332 170,088
Closing Change (Points) Chg. %
1,960.45 -23.25 -1.17%
Traded Value (JDs) Change (JD’s) Chg. %
17,462,054 -4,350,879 -19.95%
Traded Volume (Shares) Change (Shares) Chg. %
19,752,019 -3,215,803 -14.00%
ASEIndex
Sector Performance
6.46 1,425,634
0.54 1,313,320
0.93 1,206,430
0.54 2,599,222
0.33 1,773,511
0.59 1,351,738
NCMD 1.62 20.0%
KAFA 0.44 15.8%
INMA 0.92 15.0%
APCT 0.23 15.0%
40
51
51
0.30 -11.8%PHNX
0.38 -11.6%JDPC
13.00 -8.5%JDFS
JOIR 0.12 -7.7%

2. ‫المالية‬ ‫والمؤسسات‬ ‫واالستثمارات‬ ‫للخزينة‬ ‫األهلي‬ ‫مجموعة‬
Ahli Treasury, Investments & Financial Institutions Group
2
INVESTMENT ‫استثمار‬
O/N 2.38900 pct.
1 Month 2.49888 pct.
3 Months 2.60988 pct.
6 Months 2.67600 pct.
1 Year 2.78700 pct.
Gold 1306.10
Light Crude 59.04
EUR / USD 1.1312
GBP / USD 1.3214
AUD / USD .7084
USD / JPY 109.90
USD / JOD 0.708—0.710
Window 4.000 Pct.
1 Wk CDs 4.750 Pct.
1 Year T-Bills 4.441 Pct.
2 Years T-Bonds 4.791 Pct.
3 Years T-Bonds 4.799 Pct.
5 Years T-Bonds 5.307 Pct.
7 Years T-Bonds 5.895 Pct.
10 Years T-Bonds 6.420 Pct.
15 Years T-Bonds 7.183 Pct.
The Fed gave a “pleasant” surprise to the markets by announcing plans which were more
dovish than anyone had anticipated. No one was expecting any change in the FFTR (2.25%-
2.50%) and the FOMC stayed on hold with a 10-0 consensus decision. However, all other
expects of the decision were beyond most estimates. The Fed updated its dot-plot indicating
no further rate hikes in 2019 and only one in 2020.
Theresa May faces UK cabinet coup, as EU gives two additional weeks and protestors in
London march for another Brexit referendum .Theresa May was at risk of being ousted as
prime minister on Saturday evening, as cabinet ministers discussed replacing her with an
interim leader in order to unblock the Brexit process.
BOE says more firms trigger Brexit plans as rate left unchanged “The Bank of England
remained in “wait and see” mode at its March interest rates meeting, indicating that
uncertainties over Brexit were too great to provide a clear guide to the forces shaping the
economy”
The dollar fell against the safe-haven Japanese yen on Friday as dismal U.S. manufacturing data fueled worries about the wider
economy, and Treasury bond yields signaled growing fears of a recession. The dollar, however, rose against the euro as a much
weaker-than-expected German manufacturing survey raised concerns that Europe's powerhouse economy may be slowing. On
Friday, the spread between 3-month Treasury bills and 10-year note yields inverted for the first time since 2007 after U.S. PMI
manufacturing data missed estimates. This inversion of the yield curve is widely seen as a leading indicator of recession.
FOMC 2018 Meeting
Date
FED Funds
Jan 30,2019 2.25 - 2.50
March 20,2019 2.25 - 2.50
May 1,2019
June 19 ,2019
July 31,2019
September 18,2019
October 30,2019
December 11,2019
Jordan seeks to increase its exports of commodities and services to Tunisia and attract more Tunisian investments to the
Kingdom, Minister of State for Investment Affairs Muhannad Shehadeh said on Sunday. Opening the meeting of the joint
Jordanian-Tunisian committee for investment, Shehadeh, who is also president of the Jordan Investment Commission (JIC),
highlighted the need for holding more bilateral meetings between the two countries at both the public and private-sector levels,
according to a JIC statement. Baligh Bin Sultan, head of the foreign investment promotion agency in Tunisia, called for
benefitting from available opportunities and facilities in each country, expressing hope for the meeting to contribute to opening
wider scopes of cooperation. Bin Sultan and JIC Secretary General Faridon Hartouqa signed the meeting minutes.
The current account surplus of the United Arab Emirates rose to 139 billion dirhams ($38 billion) or 9.6 percent of gross domestic
product (GDP) in 2018, up from 101 billion dirhams or 7.2 percent of GDP, the UAE central bank said on Sunday.It attributed the
increase mainly to higher oil prices, which rose from an average of $54.25 a barrel in 2017 to an average of $71 in 2018.
Qatar will launch an energy-focused Islamic lender later this year with a targeted capital of $10 billion to finance both domestic
and global projects, an executive said on Tuesday.Tiny but wealthy Qatar is one of the most influential players in the liquefied
natural gas market with annual production of about 77 million tonnes, and it plans to increase this over 40 percent to 110 million
by 2024.Speaking at an Islamic Finance conference in Doha, executives launching Energy Bank said it would be the largest Islamic
energy-focused lender in the world, and would target private sector and government energy projects, both at home and abroad.
Net interest margins (NIMs) for nine of the ten biggest listed banks in the United Arab Emirates dropped during the fourth
quarter (Q4) of last year, according to Alvarez and Marsal.In its UAE Banking Pulse report, the professional services firm stated
that NIMs for the UAE’s biggest banks dropped by six basis points quarter-on-quarter, to 2.52 percent in Q4 2018, from 2.58
percent in Q3 2018 .“We will probably continue to see some pressure on NIMs as we go forward,” Dr. Saeeda Jaffar, managing
director at Alvarez and Marsal, told journalists at a media roundtable discussing the Banking Pulse report.

3. ‫المالية‬ ‫والمؤسسات‬ ‫واالستثمارات‬ ‫للخزينة‬ ‫األهلي‬ ‫مجموعة‬
Ahli Treasury, Investments & Financial Institutions Group
3
INVESTMENT ‫استثمار‬