BER Weekly
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
BER Weekly, 2020 July
Last updated: Jul 20 2020 8:47AM
Given more pressing needs, it is unfortunate that news headlines over the past week were dominated by developments surrounding South African Airways (SAA).
BER Weekly, 13 July 2020
Last updated: Jul 13 2020 8:35AM
Arguably the most important domestic news of the week had to wait until last night when President Cyril Ramaphosa addressed the nation on the COVID-19 crisis. Ramaphosa announced that while the country will remain at Level 3 lockdown restrictions, additional
read moreArguably the most important domestic news of the week had to wait until last night when President Cyril Ramaphosa addressed the nation on the COVID-19 crisis. Ramaphosa announced that while the country will remain at Level 3 lockdown restrictions, additional measures will be introduced to curb the spread of the virus and limit the demands on the health sector.
BER Weekly, 6 July 2020
Last updated: Jul 6 2020 8:48AM
The main domestic data event over the past week was the release of the 2020Q1 GDP figures. Although not as poor as feared, the data still highlighted just how weak the SA economy was even before the unprecedented COVID-19 crisis hit with full force in 2020Q2.
read moreThe main domestic data event over the past week was the release of the 2020Q1 GDP figures. Although not as poor as feared, the data still highlighted just how weak the SA economy was even before the unprecedented COVID-19 crisis hit with full force in 2020Q2. In other domestic news, a heated debate is raging about the fiscal consolidation outlined in the supplementary budget tabled on 24 June.
BER Weekly, 29 June 2020
Last updated: Jun 29 2020 8:34AM
The most important development on the domestic front was National Treasury’s supplementary budget presented by Finance Minister Tito Mboweni on Wednesday. In short, the intention of the budget was to start a process of aligning the fiscal trajectory to the
read moreThe most important development on the domestic front was National Treasury’s supplementary budget presented by Finance Minister Tito Mboweni on Wednesday. In short, the intention of the budget was to start a process of aligning the fiscal trajectory to the expected fallout of the COVID-19 shock. Due to the economic fallout from the health crisis, Treasury expects tax revenue to undershoot February’s budget estimate by more than R300 billion (bn) this fiscal year.
BER Weekly, 22 June 2020
Last updated: Jun 22 2020 9:01AM
Financial markets were caught in two minds last week as concerns about fast-rising COVID-19 infections in emerging markets, selected US states and a flare-up in China were soothed by better-than-expected economic data releases in especially the US. The global
read moreFinancial markets were caught in two minds last week as concerns about fast-rising COVID-19 infections in emerging markets, selected US states and a flare-up in China were soothed by better-than-expected economic data releases in especially the US. The global GDP outlook remains unusually uncertain and depends on the evolution of the COVID-19 pandemic, the government measures taken in response to the virus, and how firms and consumers respond to these developments.
BER Weekly, 15 June 2020
Last updated: Jun 15 2020 8:37AM
After a strong rally in risky assets during May and the first week of June, global financial markets were jolted out of complacency last week. This was amid a sobering macro outlook from the US Federal Reserve (Fed), as well as concerns about a second wave of
read moreAfter a strong rally in risky assets during May and the first week of June, global financial markets were jolted out of complacency last week. This was amid a sobering macro outlook from the US Federal Reserve (Fed), as well as concerns about a second wave of COVID-19 infections in the US. The director of the US Centers for Disease Control and Prevention cautioned that the country was ‘not out of the woods’ with COVID-19. In China, Beijing also reported a flare-up of new infections in recent days.
BER Weekly, 8 June 2020
Last updated: Jun 8 2020 9:22AM
Confirmed COVID-19 cases in SA jumped by 15 602 last week. Over the past two weeks, confirmed cases increased from 23 615 to 48 285. Despite the concerning - albeit not unexpected - SA health trajectory, local financial markets had a solid week with the JSE
read moreConfirmed COVID-19 cases in SA jumped by 15 602 last week. Over the past two weeks, confirmed cases increased from 23 615 to 48 285. Despite the concerning - albeit not unexpected - SA health trajectory, local financial markets had a solid week with the JSE and the rand exchange rate posting robust gains. The benchmark 10-year government bond yield remained largely stable at a significantly lower level than at the height of the market panic at the end of March.