|Currencies||After posting initial gains, the rand trades marginally on the back foot.|
|Commodities||Brent crude oil moved back above $69,50.|
|Equities||Our market saw domestics squeeze hard yesterday on the back of earnings from MRP and PPH, with a few odd moves given the MSCI rebalance flows; We expect a slow start, calling flat to +0.25%.|
|Economics||The US GDP Second estimate for the first quarter of 2021 was unchanged at 6.4% y/y; SA PPI rose to 6.7% y/y in April, from 5.2% previously.|
|05/28||SA||Monthly Budget Balance||–/-55.0b/-29.8b||The monthly budget deficit is expected to widen in April, given that revenue collection in April is typically weaker.|
Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091
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