June 8, 2017

Global – Growth gains momentum Global equities advanced in Dollar terms over a broad front during April on the back of positive economic data and a reduction in European geo-political risk as it became apparent that the French election would see the more moderate candidate emerge as the victor. The MSCI World Equity Index returned 1.53% but was outperformed by the MSCI Emerging Markets Index which returned 2.21%, both in Dollar terms. Emerging market performance was enhanced by US Dollar weakness combined with a synchronised improvement in global growth. Read the full article Domestic – Winds of change? Not surprisingly, following the midnight cabinet reshuffle, the expected ratings agencies downgrades followed. Fitch Ratings downgraded South Africa’s Long-Term Foreign- and Local-Currency Issuer Default Ratings to ‘BB+’ from ‘BBB-‘. The outlooks are stable. The issue ratings on South Africa’s senior unsecured foreign-... Read More

Global – Growth gains momentum Global equities advanced in Dollar terms over a broad front during April on the back of positive economic data and a reduction in European geo-political risk as it became apparent that the French election would see the more moderate candidate emerge as the victor. The MSCI World Equity Index returned 1.53% but was outperformed by the MSCI Emerging Markets Index which returned 2.21%, both in Dollar terms. Emerging market performance was enhanced by US Dollar weakness combined with a synchronised improvement in global growth. Read the full article Domestic – Winds of change? Not surprisingly, following the midnight cabinet reshuffle, the expected ratings agencies downgrades followed. Fitch Ratings downgraded South Africa’s Long-Term Foreign- and Local-Currency Issuer Default Ratings to ‘BB+’ from ‘BBB-‘. The outlooks are stable. The issue ratings on South Africa’s senior unsecured foreign-... Read More