
Fixed Income | Yields marginally higher across the curve, in line with a weaker ZAR as risk-off dampens sentiment towards EM assets. |
Currencies | The rand breaches above 15.5000, opening move to 16.0000. |
Commodities | Oil prices slipped as investors remained concerned about climbing coronavirus. |
Equities | Surging coronavirus cases across Europe weigh on markets, with evidence of profit taking following last week’s record closes in the US. |

Date | Region | Event | Actual/Expected/Prior | Implications |
12/01 | SA | Manufacturing production | –/-2.2%/-3.4% | Output is expected to remain weak, as indicated by the PMI. |
13/01 | SA | Retail sales | –/-2.6%/-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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