
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. |

Date | Region | Event | Actual/Expected/Prior | Implications |
08/01 | SA | Manufacturing PMI | 50.3/52.6/– | 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
Source: Nedbank
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