Daily Market Commentary: 2 October 2019

Today we are taking a look at:

• SAGBs trade well despite risk off in global markets after disappointing PMI data
• The rand continues on an upward trajectory
• Oil snapped a six-day losing streak as a surprise drop in U.S. stockpiles and tumbling OPEC output helped to offset more evidence the global economy is weakening
• Global markets sell off on a weaker than expected manufacturing print out of the US as well as ongoing geopolitical turmoil
• SA PMI slump follows confidence decline