Daily Market Commentary: 14 March 2019

By | 2019-03-14T09:10:26+00:00 March 14th, 2019|Markets and Research|

Today we are taking a look at: SAGBs rally marginally intraday, market cautious ahead of Moody’s and SARB next week USDZAR once again trading on the back foot Oil continues to climb on supply concerns; gold continues to rally on trade and growth concerns Global equity markets gained with energy shares benefiting from the higher [...]

Monthly Insights: March 2019

By | 2019-03-11T13:20:38+00:00 March 11th, 2019|Finance, General, Watch This|

  Executive Summary There has been a broad decline in inflation rates across the world, including a sharp downward surprise in our own (SA) inflation print for January. Lower energy prices, a decline in raw material and machinery costs, as well as falling demand-pull inflation have been key reasons for the falling inflation trajectory [...]

Key Highlights from the 2019 Budget

By | 2019-02-21T08:48:21+00:00 February 21st, 2019|Markets and Research|

Executive Summary The 2019 Budget builds on the 2018 MTBPS, with one sore caveat: the fiscal trajectory has deteriorated even further as NT chose to provide financial support to Eskom to the value of R23 billion per annum. However the bad news doesn’t end there – growth estimates had to be revised sharply lower yet [...]

Monthly Insights: February 2019

By | 2019-02-17T20:12:44+00:00 February 17th, 2019|Finance, General, Watch This|

  Executive Summary· In the past month, we have seen global central banks capitulate, along with some EM central banks, as a result of lower global growth, inflation metrics and trade activity. Further geopolitical risks in the form of trade wars and tighter financial conditions exacerbated the capitulation. In the past month, we have also seen [...]

Daily Market Commentary: 18 January 2019

By | 2019-01-18T09:25:00+00:00 January 18th, 2019|Markets and Research|

Today we are taking a look at: Front end re-prices lower, but back end continues to trade very poorly despite the increasingly attractive yield pickup now for locals. A weak close in SAGBs Dovish SARB, rates on hold, rand unchanged Oil’s after-market rebound waned Thursday after the U.S. Treasury Department disputed a report that the [...]

Monthly Insights: December 2018

By | 2018-12-11T10:59:26+00:00 December 11th, 2018|Markets and Research, Watch This|

Executive Summary ·        After sounding increasingly hawkish since its September meeting, the US Fed has come to the realisation that it may need to reassess its policy tools, and its tightening strategy. While domestic macroeconomic data remain upbeat, cracks have started to emerge in the form of a slowdown in business capex spending, tighter global [...]