Fixed Income

 SAGB yields continue to rise in thin liquidity conditions, steep curve is maintained

Currencies

The rand holds steady in lacklustre trade

Commodities

Oil clawed back some of Monday’s losses; Gold unchanged
Equities

Wall Street closed up strongly, and Asia has followed suit this morning

 

Date Region Event Actual/Expected/Prior Implications
09/06 EZ GDP –/-3.8%/-3.8% Negative growth expected due to activity disruptions caused by lockdown restrictions
10/06 US

CPI

–/0.3%/0.3%

Further disinflation expected on account of the Covid-19 outbreak, but to a lesser extent then in April
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 | CIBMarketComm@Nedbank.co.za | +27 11 537 4091

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Source: Nedbank

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