Today we are taking a look at:

  • SAGB yields sharply lower this morning as a result of dovish Powell and Fed minutes
  • USDZAR breaches  sub-14.0000
  • Oil extended gains after closing at a seven-week high as around a third of the Gulf of Mexico’s crude output was cut before a potential hurricane and U.S. crude inventories shrunk more than expected
  • Global equity markets traded cautiously ahead of Jerome Powell’s testimony before Congress
  • FOMC minutes makes the case for a rate cut due to downside risks to the growth outlook

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