Week 3

Week 3


Property Industry:

  • February’s registration value in the deed’s office to date is up by 25.48%
  • The average bondable loans increased from R1,077,980 to R1,247,208
  • Cash sales volumes increased from 4,805 to ,5,534 for February
  • Q4 of 2020 saw the markets registrations increase by 21.3% by value vs Q4 2019
  • Overall bank submission for March 2021 is up by over 60%
  • Bank conversion rations continue to be under pressure as lending requirements become more firm
  • MultiNET home loans set a new all-time record for the month of March 2021

Local & International Markets:

  • The rand remains weaker at R14.93/$ (R14.91/$*)earlier this week
  • EM currencies were largely down; the TRY (-2.0%), INR (-1.2%) and COP (-1.1%) were amongst the biggest losers
  • Asian equity markets the Nikkei, Hang Seng and Shanghai Composite are down
  • Brent crude oil is up this week by 24.5% year-to-date
  • The gold price is down this week by 11.4% year-to-date
  • Brent crude oil is currently at $64.48/bbl; ($64.14/bbl*)
  • Gold is at $1682/oz ($1685/oz*)
  • SA CDS 243bps*, higher than Brazil 233bps* and lower than Turkey 487bps*
  • Yields: US 10yr at 1.73%*, German bund at -0.286%* and SA 10-year generic at 9.87%*, SA’s R186 at 7.52%*

Covid Update

  • Covid-19 global update: cases have surpassed 128.80 million, while the death toll has surpassed 2.81 million; recoveries are at 103.94 million
  • Africa’s Covid-19 cases are at 4.23 million; fatalities are at 112,781
  • Morocco has 495,421 reported cases, Nigeria 162,762, Ghana 90,287, Kenya 132,646
  • SA has the 17th highest caseload, at 1.546 million; 756 new cases were reported on Tuesday
  • 251,707 healthcare workers have been vaccinated to date
  • President Ramaphosa has announced the banning of alcohol and limited size of religious and social gatherings over Easter to prevent a holiday surge in cases
  • Bars and restaurants will be able to sell alcoholic beverages but will be required to close at 11 pm
  • Regarding the vaccine campaign, Ramaphosa noted that the 2nd phase will see vaccinations of the elderly and those with comorbidities begin in mid-May
  • It was further noted that SA has secured 11 million doses of the J&J vaccine and is finalising a further order of 20 million doses
  • SA will also acquire 20 million doses of the Pfizer vaccine, expected in H2:21

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