Today we are taking a look at:

  • Markets are still digesting the Fed’s FOMC rate hike decision and the accompanied statement with US and local bond yields marginally lower
  • Focus now shifts to the ECB meeting today
  • Oil held gains above $66 a barrel after American crude inventories slumped the most since March and as investors focused in on the deepening rift among OPEC producers over its production cap
  • Global markets experienced a lacklustre trading session with markets posting modest moves ahead of the Federal Reserve interest rate announcement
  • South African retail sales for April disappointed coming in at 0.5% y/y; This print would be consistent with the low VAT pass-through in the April CPI number

If you are looking for more relevant market commentary, have a look at our other Markets and Research.