The Markets Daily

Stirring opening remarks delivered with a Churchill-like tone by President Ramaphosa during his fifth state of the nation address. His was passionate speech to a sparse caucus within the parliamentary chambers that echoed amid the thinness of MPs and dignitaries, as strict social distancing protocols were observed.

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Practising the art mindfulness has become commonplace over the last year as we find release from the entrapment of lockdown. Visualisation techniques are thought to build internal motivation and help affirm desired outcomes.

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While SA’s vaccine roll-out strategy was dealt a blow after studies showed that the AstraZeneca vaccine was only 22% effective in protecting against mild and moderate covid-19 infections caused by the highly contagious variant 501Y.V2, clinical trials are underway in the US to determine if the vaccine can prevent covid-19 deaths and severe disease.

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When I gave the title “A spanner in the works” I was referring to the delay in SA’s vaccine rollout. It would seem this action has put a much greater spanner in the works globally with concerns about the efficacy of the AstraZeneca vaccine popping up everywhere.

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It was merely a week ago that SA’s first doses of a covid-19 vaccine made landfall, to great fanfare. Sadly, news emerged over the weekend that the AstraZeneca vaccination does not provide statistically significant protection against the 501Y.V2 variant, the strain that is dominant in SA.

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I haven’t shared a personal anecdote with audiences in a while. With it being Friday, it seemed appropriate. My toddler began school this year. Grade 000, to be precise, which is essentially play school. I hadn’t realised the number of zeros that children need to progress through before entering primary school.

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The seesaw of risk on the global playground is weighted in favour of EM assets as the force of gravity is supported by constructive data, sustained stimulus and a steady vaccine rollout. Markets are poised for US non-farm payrolls tomorrow with private employment data revealing that companies added more jobs than anticipated in January.

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Globally, sentiment continued to improve as focus turned back to renewed stimulus hope, vaccines roll-out and better-than-expected earnings from tech companies, while the US retail frenzy subsided. Equity markets posted solid gains for the second consecutive day, with the S&P 500 and Nasdaq rising by 1.4% and 1.6% on Tuesday.

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It was a dark and stormy night, well at least in some parts of South Africa, and a dreaded family meeting had been called. These meetings have brought the worst news and better news and while there was much speculation on the agenda for the meeting, there was just a little trepidation for many a family member.

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Happy 1st of February 2021. The start of the year, and January by association, was to be the beginning of a new year, a change in pandemic conditions and return to normality. It is clear at this point that January brought with it a rather cold bucket of water to snap us back to reality.

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