Daily Market Commentary Flash Note 3 June 2020

Fixed Income

A global risk rally supports ZAR and SAGBs, R186 the outperformer, yields lower across the curve, but curve begins to steepen

Currencies

The rand posts gains towards the 17.0000 level

Commodities

Oil rose to a near three-month high; Gold prices dipped

Equities

Keep an eye on PRX, which missed accelerated inclusion in the STOXX 50

Economics

Global markets rebound as world economies move to reopen and renewed trade-war fears are cast aside

Date

Region

Event

Actual/Expected/Prior

Implications

04/06

Electricity production

– –/–/-4.1%

Electricity expected to show negative growth on an annual basis

05/06

Unemployment rate

–/19.6%/14.7%

May unemployment expected to edge up 20%

Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091

Source: Nedbank

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