BER Weekly
BER Weekly, 28 September 2020
Last updated: Sep 28 2020 7:24AM
In a shortened long-weekend edition, we focus on global events and their impact on the performance of domestic financial markets last week.
BER Weekly, 21 September 2020
Last updated: Sep 21 2020 8:36AM
Besides key monetary policy meetings, the global focus last week was on the re-imposition of restrictions on movement and gatherings in a number of countries, including Spain, the UK and Israel. This is in reaction to fast rising COVID-19 cases after a period
read moreBesides key monetary policy meetings, the global focus last week was on the re-imposition of restrictions on movement and gatherings in a number of countries, including Spain, the UK and Israel. This is in reaction to fast rising COVID-19 cases after a period where the epidemic curve had flattened and restrictions were eased. In contrast, the domestic focus was on the next steps in opening up the SA economy.
BER Weekly, 14 September 2020
Last updated: Sep 14 2020 8:21AM
Despite the horrible, albeit largely as expected, SA GDP print for 2020Q2, the local equity market shot to life last week. Although it is always hard to correlate large market moves to any specific event, it may be that investors saw the Q2 GDP figure and
read moreDespite the horrible, albeit largely as expected, SA GDP print for 2020Q2, the local equity market shot to life last week. Although it is always hard to correlate large market moves to any specific event, it may be that investors saw the Q2 GDP figure and thought that the environment can only get better from here. As we outlined last week, the ongoing problems at Eskom and government implementation paralysis warrant some caution on the pace of the recovery from the devastation in Q2. However, the (initial) incoming data for the third quarter suggests some upside to the first phase of the recovery.
BER Weekly, 7 September 2020
Last updated: Sep 7 2020 8:59AM
With most of the important data releases early in the week (see the domestic section for more on the manufacturing PMI, vehicles sales and external trade figures), last week’s local news flow was dominated by the return of stage 4 load shedding on Wednesday.
read moreWith most of the important data releases early in the week (see the domestic section for more on the manufacturing PMI, vehicles sales and external trade figures), last week’s local news flow was dominated by the return of stage 4 load shedding on Wednesday.
BER Weekly, 31 August 2020
Last updated: Aug 31 2020 8:56AM
Last week, global financial market attention was focused on a speech by US Fed Chair Jerome Powell in which he outlined the outcome of a monetary policy review by the US central bank.. On the local data front, consumer inflation increased by somewhat more
read moreLast week, global financial market attention was focused on a speech by US Fed Chair Jerome Powell in which he outlined the outcome of a monetary policy review by the US central bank.. On the local data front, consumer inflation increased by somewhat more than the market and our expectation in July.
BER Weekly, 24 August 2020
Last updated: Aug 24 2020 8:09AM
It was a quiet week on the domestic data front last week. Besides the opening of the economy to level 2 lockdown regulations, domestic attention remained focused on whether the ANC and government is adequately addressing the corruption problem in SA.
read moreIt was a quiet week on the domestic data front last week. Besides the opening of the economy to level 2 lockdown regulations, domestic attention remained focused on whether the ANC and government is adequately addressing the corruption problem in SA.
BER Weekly, 17 August 2020
Last updated: Aug 17 2020 8:44AM
After a number of domestic data releases earlier in the week confirmed a historic GDP collapse is likely in 2020Q2, the most significant news of the week had to wait for Saturday night. The president announced that the entire country will move down to Level 2
read moreAfter a number of domestic data releases earlier in the week confirmed a historic GDP collapse is likely in 2020Q2, the most significant news of the week had to wait for Saturday night. The president announced that the entire country will move down to Level 2 of lockdown restrictions from Tuesday, 18 August. This will open up more economic activity.
BER Weekly, 7 August 2020
Last updated: Aug 7 2020 3:22PM
In a relatively light week for SA data releases, the local focus was on the continued fallout from some of government’s lockdown regulations.
BER Weekly, 3 August 2020
Last updated: Aug 3 2020 9:03AM
The week started with news of the confirmation of the $4.3 billion (bn) loan from the International Monetary Fund (IMF) through its Rapid Financing Instrument. In the process of obtaining the loan, the government re-committed itself to the fiscal
read moreThe week started with news of the confirmation of the $4.3 billion (bn) loan from the International Monetary Fund (IMF) through its Rapid Financing Instrument. In the process of obtaining the loan, the government re-committed itself to the fiscal consolidation outlined in the supplementary budget presented in June, including to introduce zero-based budgeting.
BER Weekly, 27 July 2020
Last updated: Jul 27 2020 9:02AM
In line with the experience in the rest of the world, a number of SA data releases last week supported the narrative that April was the weakest point in the historic domestic recession. That said, the data for May remained ultra-depressed, justifying the
read moreIn line with the experience in the rest of the world, a number of SA data releases last week supported the narrative that April was the weakest point in the historic domestic recession. That said, the data for May remained ultra-depressed, justifying the further 25bps repo rate cut on Thursday