Daily Market Commentary: 25 July 2019

·       SAGBs a touch weaker with a steepening bias, yields rise after fiscal woes make headlines

·       USDZAR holds steady

·       Oil held its biggest loss in a week as signs that growth is slowing in major economies overshadowed the longest run of declines in since the start of 2018

·       Equity markets shrugged off the positive sentiment overnight towards the upcoming US trade delegation to China as poor global economic data and company earnings weighed on sentiment

·       SA CPI remains unchanged in June as higher food and utilities prices offset lower transport inflation

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