The Markets Daily

Yesterday’s announcement from the US Food and Drug Administration (FDA) and the US Centers for Disease Control (CDC), which recommended that the administration of the J&J covid-19 vaccine be paused following six cases of a severe type of blood clot, has thrown a spanner in the works for government’s vaccine roll-out strategy.

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Chips, in an older time, were part of the classic combo “fish and chips”, or could be a reference to potato chips, also called crisps in some places, and for those with a sweeter tooth, a chocolate chip can be a source of joy, chips also the “currency” of sorts in games of chance.

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It will come as a bit of a shock to the average South African – today marks the start of a five-day working week! The first of April and the first after three consecutive four-day work weeks. That said, I am most grateful for any number of working days given the staggered nature of the global economic recovery.

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With the Easter weekend well behind us and Freedom Day still a few weeks off, we’re forced to contend with a two-day weekend. I say that glibly, as though the break isn’t welcomed, but the thought of an additional minute of sleep...

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I’ve penned the daily commentary for a number of years now and find myself circling back to familiar titles. Bobby McFerrin’s 1988 classic, “don’t worry, be happy” popped into my head after perusing the Fed minutes last night...

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The International Monetary Fund (IMF) published its April world economic outlook and now projects that the global economy will expand by 6.0% and 4.4% in 2021 and 2022, following a contraction of 3.3% in 2020...

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If you’re feeling fatigued from the long drive back after an Easter retreat or are suffering with indigestion after numerous sugar-filled treats, then count yourself lucky. A year ago, travel was prohibited, grocery runs felt perilous and public gatherings were unthinkable...

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I had to caution myself when scouring news sources this morning that it is the first of April – I don’t want to be the fool. That said, while many approach this day with caution, it marks the start of the new fiscal year in South Africa...

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Global equity stocks traded mixed yesterday, will all three major US indices down for the day, while UK, Europe and EM equities were mostly up. However, month-to-date the MSCI for EM stocks is down 1.5% and poised for the first monthly loss since last October as a rise in treasury yields lead to rout in risk assets. Today, equity stocks are likely to take cue from Biden’s infrastructure plan, which may include US$2trn in spending.

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It was with cautious optimism that the news of the partial refloating of the Ever Given was announced early yesterday. Today, not only has the Ever Given been fully refloated, but it is also en route to the Great Bitter Lake where it will be inspected for damage.

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