Daily Market Commentary Flash Note – 5 March 2021
Rising UST yields continued to see growth assets sell off as rotation out of tech into energy and value persists.
Rising UST yields continued to see growth assets sell off as rotation out of tech into energy and value persists.
Oil prices rose on Wednesday, boosted by expectations that Opec+ producers might decide against increasing output.
Asian markets have shrugged off the tech sell-off overnight in the US and are trading positively across the broader market.
The SA manufacturing PMI surprised to the upside in February; Naamsa vehicle sales fell by 13.3% to 37 521 units.
SA's Monthly Budget Balance - Large deficit in January but revenue seems to be doing well.
UST yields spike, which sees pandemic equity winners tumble overnight, as investors reduce risk into the weekend.