Today we are taking a look at:

  • S&P downgrades SA to junk status on the back of recent flare up in political risks
  • USDZAR sharply weaker on the back of downgrade; softer dollar supports majors apart from sterling which weakens sharply
  • Top 40 rises 0.87%, led by gains in most sectors; US equities downbeat; Asia mixed this morning
  • SA vehicle sales growth rises off a low base, Eurozone PPI rises and unemployment rate eases
  • Sharp equity outflows offset by large bond inflows, net YTD flows turn positive