|Fixed Income||We start the week off with risk-off sentiment dominating in Asia, and SAGB yields likely to drift higher as a result.|
|Currencies||The rand on the back foot as risk trades weaker.|
|Equities||Global markets trade higher on better-than-expected economic date and hopes of more stimulus in the US.|
PMI weighed down by weak business activity and new sales orders.
|12/01||SA||Manufacturing production||–/-1.7%/-3.4%||Output is expected to remain weak, as indicated by the PMI.|
|13/01||SA||Retail sales||–/-2.3%/-1.8%||Consumer spending is still impacted by the pandemic, limiting retail spending.|
|13/01||US||CPI||–/1.3%/1.2%||Inflation will remain subdued due to lack of demand pull inflation, core remains low.|
|15/01||UK||Manufacturing production||–/-4.8%/-7.1%||Output weak, driven by lockdown restrictions and pandemic.|
|15/01||US||Retail sales||–/0%/-1.1%||Consumer spending limited by the pandemic and low confidence.|
Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091
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