The Markets Daily

Britons were all but told to expect that Christmas this year, will not be normal, actually, they are to prepare for 6 months of increased restrictions. These could be stepped up if the restrictions announced yesterday do not help slow down the rate of new covid-19 infections in the UK.

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As many know all too well, SA moved to level 1 of lockdown yesterday, but a day later, it is important we take note of what is happening in the UK and learn...

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Brevity never fatigues; therefore, brevity is always a welcome guest. An apt thought by French poet Gautier as we begin a shortened trading week in South Africa. Heritage Day, a salute to our cultural diversity, will be celebrated on Thursday. Level 1 of the government’s risk adjusted strategy, effective today, will allow for more merriment than has been permissible over the last 6 months.

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Hold, is the order of the day. At least is seems to be among the various central banks which convened this week. Brazil, Indonesia, Taiwan, Japan, the US, the UK and SA’s monetary authorities remained pat on policy rates after varying magnitudes of cuts since the onset of covid-19 pandemic in March.

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It’s taken six months but we’re now in a position to reopen our borders and relieve businesses of the regulatory burden imposed by lockdown. Arguably, the transition to level 1 of government’s risk-adjusted strategy is long-overdue given the adverse impact on critical sectors to the economy.

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Peace at last, or is it? At the very least the news that Israel, the UAE and Bahrain have entered into a deal to normalise relations is a step in the right direction. There are still many details to be formally threshed out, and for the Middle East at whole to become a region known for peace rather than conflict there are a number of other countries in the region that need to come, or be brought to this table.

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Boris Johnson’s rebellion against the Brexit accord managed to clear its first hurdle yesterday when the House of Commons passed the Internal Market Bill. It would seem this is part of the British PM’s strategy to force a deal between the EU and UK as the deadline looms ever nearer.

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Markets have kicked off the week on a positive note, reversing the past two weeks declining trend. Pfizer has provided a strong catalyst for gains as its CEO hints at the possible deployment of a covid-19 vaccine before the end of the year.

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The week’s stress culminates in complete exhaustion as we close out the week. Our fatigue is mirrored in global financial markets. The MSCI EM stock index is a crucial barometer of the angst over the global correction triggered by US tech stocks, falling below its 50-day moving average...

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Fear not for Level 1 is nigh. This according to SA’s health minister. Encouraged by the country’s decreasing rates of covid cases, minister Mkhize has hinted at a transition to level 1 in coming days. A welcome and necessary shift for an economy in grave distress.

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