Today we are taking a look at:

  • Local factors the predominant driver of the sell-off, SA GDP contraction pushes bond yields sharply higher
  • SA remains firmly on the back foot, USDZAR remains above R15.20/$, despite some dollar weakness this morning
  • Oil fell sharply on concern over rising US stockpiles; Gold lower, weighed by dollar strength
  • The All Share index started its trading day in negative territory; poor results from Bidvest; Aspen released a voluntary trading update sending the stock lower and MTN’s woes continued now with a $2bn Nigerian tax bill
  • SA enters technical recession as GDP data disappoints in Q2; Global PMIs mixed, but marginally higher in August

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