Daily Market Commentary Flash Note – 26 April 2021

Fixed IncomeUST yields continue to trade in a narrow range with the 10yr currently yielding 1,572%; SAGBs likely to be impacted by higher volatility levels this week.
Currencies Rand remained resilient into the week’s close.
CommoditiesOil below $62/bbl. as Indian Covid-19 resurgence worsens.
EquitiesTop40 +0.48%, market rebounds from session lows with demand in property +2.5% and industrial metals +1.5% ongoing.
DateRegionEventActual/Expected/PriorImplications
27/04USConsumer confidence–/112/109.7Consumer sentiment will be lifted as a result of the stimulus being provided to households, as well as the improvement in economic activity in the US.
27/04JNBoJ policy rate–/-0.1%/-0.1%No change expected as the BoJ remains accommodative.
28/04USFOMC rate decision–/0.25%/0.25%Fed to keep rate steady and signal continued support to the economy.
29/04USGDP – Q1–/6.9%/4.3%Growth to be boosted by better demand in Q1.
30/04EZGDP – Q1–/-0.8%/-0.7%Lockdown restrictions in the 2nd wave of the pandemic will likely keep growth muted in Q1.
30/04SAVariousSA’s trade balance likely to post a surplus in March, driven by exports, while the monthly budget balance may produce a deficit of around R50bn in March, as per the preliminary data.

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

Source: Nedbank

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By | 2021-04-26T10:01:36+02:00 April 26th, 2021|Markets and Research|0 Comments

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