Today we are taking a look at:

  • USTs gave up a heavy portion of gains despite the Fed announcing a massive series of $500 billion term repo operations, all assets are under significant pressure and recessions are imminent in our view; SAGB yields almost 50bps higher across the curve yesterday
  • Rand price action extreme as liquidity dries up
  • Oil headed for its biggest weekly drop since 2008; Gold prices fell further
  • The JSE and global markets end the day sharply lower as market panic deepensDailyMarketCommentary200313

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