The Week In Perspective
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What’s happening in the markets now?
England is going under tougher COVID-19 curbs, BoJO is getting roasted for last year’s Christmas party while Christmas parties are being cancelled across Europe and the United States, and Jefferies became the first big Wall Street bank to send employees home.
But with focus returning to central banks and inflation, the rally has lost some of its edge. European and U.S. futures are flatlining, and a global equity index paused near two-week highs.
The rand, meanwhile, ended a three-day winning streak, reaching an intraday low of R15.99/$, dropping almost 2% as manufacturing output slumped far more sharply than expected in October. Data showed industrial production fell 8.9% year on year, versus economists’ predictions for a 1.4% decline, probably because of a strike in the steel and engineering sector.
Michael Avery is joined by Warwick Lucas Head of Galileo Securities; Raymond Parsons, professor in the School of Business and Governance at Northwest University & Isaah Mhlanga, Chief Economist at Alex Forbes
England is going under tougher COVID-19 curbs, BoJO is getting roasted for last year’s Christmas party while Christmas parties are being cancelled across Europe and the United States, and Jefferies became the first big Wall Street bank to send employees home.
But with focus returning to central banks and inflation, the rally has lost some of its edge. European and U.S. futures are flatlining, and a global equity index paused near two-week highs.
The rand, meanwhile, ended a three-day winning streak, reaching an intraday low of R15.99/$, dropping almost 2% as manufacturing output slumped far more sharply than expected in October. Data showed industrial production fell 8.9% year on year, versus economists’ predictions for a 1.4% decline, probably because of a strike in the steel and engineering sector.
Michael Avery is joined by Warwick Lucas Head of Galileo Securities; Raymond Parsons, professor in the School of Business and Governance at Northwest University & Isaah Mhlanga, Chief Economist at Alex Forbes
