Today we are taking a look at:

  • Curve starts to price a SARB cut after disappointing GDP print, steepening driven by front-end yields
  • Local GDP ends the rands strong showing
  • Oil price remain on down-trend, while gold is elevated on safe haven demand
  • SA GDP print of -3.2% saw SA Inc under pressure from local accounts; Global markets have bounced over night post the FED’s comments that it may act to minimize the trade war impact; Naspers remains the local driver into its listing of Newco in July
  • SA GDP sharply negative in Q1; Eurozone CPI slumps after temporary rise in April
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