Today we are taking a look at:
- Continued EM risk-on fuels demand for SAGBs with yields falling and further curve flattening into the 30y point
- USDZAR breaks below R14.00/USD due to dovish global central banks
- Oil struggled to extend gains beyond a five-month high as an increase in U.S. crude inventories to the highest since late 2017 overshadowed OPEC’s efforts to reduce production
- Global growth concerns were shrugged off as investors digested economic data and company earnings
- Fed, ECB remain dovish due to external headwinds; US CPI surges temporarily; UK industrial production surprises to the upside; Chinese inflation distorted by New Year holiday; SACCI business confidence index falls to a 7-month low
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