Today we are taking a look at:

  • Bonds found support again yesterday, with yields grinding lower despite the weaker than expected current account print
  • Local focus remains on Eskom
  • Oil traded near $66 as OPEC and its allies reached a preliminary agreement despite strong opposition from Iran to boost production
  • Global markets traded weaker as global trade concerns resurfaced
  • SA current account for 1Q18 came in at -4.8% of GDP. The print was wider than Bloomberg consensus expectations of -3.9%. However, as base case one should expect the current account too be narrower for the rest of 2018
DailyMarketCommentary180622

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