The Trump effect

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November marked one of the most decisive shifts for global financial markets in recent years, with a number of asset classes — from bank stocks, emerging-market bonds to hard commodities — staging sharp price swings in the space of a mere three weeks. Bloomberg reports that investors appear to think that the unexpected victory of […]


Zuma under siege

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On Wednesday 2 November, President Jacob Zuma dropped his court bid to delay the release of the Public Protector’s report over alleged influence peddling in government as thousands marched in the streets of Pretoria against the president. The rand strengthened more than 1% and bonds firmed in response to the withdrawal, which analysts said was […]


Emerging growth optimism?

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South Africa may be over the worst of its economic downturn with potential growth of over 1% next year, Finance Minister Pravin Gordhan said on Monday when he was speaking to reporters on the side-lines of the FT Africa Summit in London. Gordhan also said the country, which is teetering on the lowest investment grade […]


The ANC in an unrehearsed role

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In the aftermath of the very successful, free and fair local elections held in the country on 3 August, the ANC has told the electorate that it had taken a decision to consolidate as a party (at least on the surface) and would go through a period of introspection to determine the best way forward […]


The people have spoken

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South Africa has just completed a very peaceful, non-violent local election process that was declared “free and fair” by the Independent Electoral Commission (IEC) without any fear of contradiction. This election proved to be the most competitive since the country became a democracy. Though the African National Congress (ANC) remains firmly in control of most […]


BREXIT: two weeks later …

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Two weeks after the United Kingdom voted to leave the European Union (EU) the focus of attention is in three different areas: the political turmoil that has erupted in UK politics, the widespread speculation about the response of the remaining members of the EU and the reaction of global equity, bond and currency markets. The […]


The downgrade uncertainty remains

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On Friday 3 June, the S&P Global Ratings agency published their 6 monthly review of the credit rating for South Africa’s long- and short-term foreign and local currency bonds. The outcome of the review was much more positive than many had expected, as S&P Global Ratings maintained their current rating of BBB-, which is one […]


Leadership versus politics

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South Africa has just dodged a ratings downgrade by Moody’s following the agency’s latest assessment visit to the country. However, the agency has retained its negative outlook, putting pressure on SA to revive its economic growth rate and create a healthier climate for investment, reports Business Day. The Moody’s decision, which comes after the rating […]


Pervasive political interference

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In a recent article published by Bloomberg, Sangwon Yoon provided some interesting insights into the changing nature of the drivers of global investment market behaviour. He points out that during the boom years, when China’s demand seemed insatiable and commodity prices dependable, the Emerging Markets team at Stone Harbor Investment Partners in New York visited […]


Resources shares run riot

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As 2016 dawned, it appeared as though it would be business as usual for the beleaguered global resources sector as the Bloomberg Commodity Index moved lower in the first two weeks of the new calendar year. This all changed on January 20 though. Without any prior warning, some of the resources sector share prices started […]