BER Weekly
BER Weekly, 23 November 2020
Last updated: Nov 23 2020 8:36AM
One can perhaps sum up last week’s domestic economic data as confirming some optimism about the initial (third quarter) recovery from the 2020Q2 GDP crash. At the same time, some of the key concerns about domestic economic prospects resurfaced. The latter was
read moreOne can perhaps sum up last week’s domestic economic data as confirming some optimism about the initial (third quarter) recovery from the 2020Q2 GDP crash. At the same time, some of the key concerns about domestic economic prospects resurfaced. The latter was driven by two key developments: First, a rise in the seven-day rolling average of daily new COVID-19 cases in SA. Second, the decision by credit rating agencies Fitch and Moody’s to further downgrade SA’s creditworthiness.
BER Weekly, 16 November 2020
Last updated: Nov 16 2020 8:26AM
The biggest financial market driver over the past week came on Monday when pharmaceutical company Pfizer announced its experimental COVID-19 vaccine is 94% effective based on initial trial results. Global equity markets surged in response to the announcement,
read moreThe biggest financial market driver over the past week came on Monday when pharmaceutical company Pfizer announced its experimental COVID-19 vaccine is 94% effective based on initial trial results. Global equity markets surged in response to the announcement, while oil and other industrial commodities also increased sharply.
Local assets were swept up in the enthusiasm with government bond yields declining while the rand exchange rate continued its recent strengthening streak and traded at its best level in about two months.
BER Weekly, 9 November 2020
Last updated: Nov 9 2020 7:47AM
Last week’s news flow was dominated by the US presidential election. Although it was clear early on that Joe Biden was on track to win the popular vote, some of the electoral college votes in battleground states remained too close to call for days after the 3
read moreLast week’s news flow was dominated by the US presidential election. Although it was clear early on that Joe Biden was on track to win the popular vote, some of the electoral college votes in battleground states remained too close to call for days after the 3 November election.
BER Weekly, 2 November 2020
Last updated: Nov 2 2020 8:17AM
Last week had a lot for global and domestic financial markets to digest. On the international front, the focus remained on the concerning trend of fast-rising confirmed COVID-19 cases in continental Europe, the UK and the US.
read moreLast week had a lot for global and domestic financial markets to digest. On the international front, the focus remained on the concerning trend of fast-rising confirmed COVID-19 cases in continental Europe, the UK and the US.
BER Weekly, 26 October 2020
Last updated: Oct 26 2020 8:34AM
Last week was quiet on the domestic data front. Even so, risky assets outperformed. This included the rand exchange rate, which ignored idiosyncratic weakness in peer currency the Turkish lira. The rand was also immune to a further worsening of the COVID-19
read moreLast week was quiet on the domestic data front. Even so, risky assets outperformed. This included the rand exchange rate, which ignored idiosyncratic weakness in peer currency the Turkish lira. The rand was also immune to a further worsening of the COVID-19 situation in Europe. Renewed concern about the Eurozone (EZ) GDP outlook was reflected in a pullback of sentiment and the flash October services PMI data the re-institution of virus mitigation measures.
BER Weekly, 19 October 2020
Last updated: Oct 19 2020 10:29AM
The main domestic event last week was President Cyril Ramaphosa’s presentation of South Africa’s economic reconstruction and recovery plan to parliament on Thursday. On the local data front, Stats SA released a slew of real economic data for August, including
read moreThe main domestic event last week was President Cyril Ramaphosa’s presentation of South Africa’s economic reconstruction and recovery plan to parliament on Thursday. On the local data front, Stats SA released a slew of real economic data for August, including mining and manufacturing production, as well as retail and wholesale trade sales. With the exception of wholesale trade, all sectors performed better in August relative to July, but momentum is slowing.
BER Weekly, 12 October 2020
Last updated: Oct 12 2020 8:17AM
There was a dearth of SA data releases last week. As a result, amongst other factors, local financial markets were influenced by volatile news flow on negotiations surrounding a second fiscal stimulus package in the US. In the end, the JSE Alsi tracked global
read moreThere was a dearth of SA data releases last week. As a result, amongst other factors, local financial markets were influenced by volatile news flow on negotiations surrounding a second fiscal stimulus package in the US. In the end, the JSE Alsi tracked global stock markets higher.
BER Weekly, 5 October 2020
Last updated: Oct 5 2020 8:23AM
In a fairly busy week, the most watched domestic data release was Stats SA’s Quarterly Labour Force Survey (QLFS) for Q. Other noteworthy releases include September’s Absa PMI and new vehicle sales data which confirmed that the economy is set for a robust
read moreIn a fairly busy week, the most watched domestic data release was Stats SA’s Quarterly Labour Force Survey (QLFS) for Q. Other noteworthy releases include September’s Absa PMI and new vehicle sales data which confirmed that the economy is set for a robust rebound in Q3. In global economic news, the focus was on the September US employment data (nonfarm payrolls).
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.