Daily Market Commentary: 7 August 2019

Today we are taking a look at:

  • SAGBs bull steepen yesterday amid better liquidity conditions, yields follow ZAR and swaps stronger
  • The rand remains vulnerable to further weakness
  • Brent crude held losses after falling into bear market as concern the U.S.-China trade war will continue to sap demand outweighed an industry report showing American crude stockpiles are still shrinking
  • Asian markets have not followed the US higher as hopes of easing trade tensions dissipate; Whispers of a fair value level of 7.50 for the CNY are keeping investors on the sidelines; Expect increased volatility, as the EM blanket selling should continue
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By | 2019-08-07T10:06:16+00:00 August 7th, 2019|Markets and Research|0 Comments

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