Fixed Income

SAGB yields marginally lower ahead of Fed last night; dovish Fed supports US treasury yields as it reiterates persistent stimulus measures and near-zero interest rates.


Fed holds steady.


Oil prices fell in early trade on Thursday; spot gold edged lower.


Equity markets remained under pressure as more reports on the impact of the coronavirus on the global economy surfaced.


SA Business confidence falls to record low.


Date Region Event Actual/Expected/Prior Implications
11/06 SA Manufacturing Production -/-52.5%/-2.1% April manufacturing production expected to have dropped 52.2% on a monthly basis at the back of lockdown restrictions imposed.
11/06 US PPI –/-1.3%/-1.2% Core producer prices remain under pressure, the recovery in oil prices during the month of May will limit the decline in the headline.
12/06 EZ Industrial production –/-28.3%/-12.9% Sharp decline expected in industrial production, resultant from lockdown restrictions imposed.
12/06 UK GDP –/-10.1%/0.1% Expected to drop by 17% on the month, due to effects of the coronavirus pandemic.
12/06 UK Industrial production –/-19.3%/-8.2%

Industrial production expected to have slowed to -19.3% on an annual basis due to the covid-19 pandemic.

12/06 UK Manufacturing Production –/-19.9%/-9.7% Expected to have slowed to 19.9% on an annual basis.


Nedbank CIB Market Commentary | | +27 11 537 4091


Source: Nedbank

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