Week 9

Week 9


Property Industry:

  • Lightstone’s Residential Property Index Current annual inflation rate is at 4.13% and monthly is at 0.34%
  • The average house price submitted for May thus far continues to improve by 8% annually
  • Bank willingness to lend continues to grow with April achieving pre-covid numbers
  • Market submissions are 10% higher than the 2020 average with May 2021 looking to be another record month for the industry

Local & International Markets:

  • The rand closed strong this week, and is currently at R14.04/$ (R13.99/$*)
  • EM currencies were mixed this week; the COP (+0.9%), PEN (+0.5%) and PLN (+0.3%) were amongst the biggest gainers; the CLP (-1.2%), KRW (-0.5%) and TWD (-0.4%) were amongst the biggest losers
  • Asian equity markets the Nikkei, Hang Seng and Shanghai Composite are down
  • Brent crude oil is up this week, and up by 32.5% year-to-date
  • The gold price is down this week, and also down by 3.6% year-to-date
  • Brent crude oil is currently at $68.63/bbl; ($68.55/bbl*)
  • Gold is at $1830/oz ($1835/oz*)
  • SA CDS 205bps*, higher than Brazil 175bps* and lower than Turkey 397bps*
  • Yields: US 10yr at 1.62%*, German bund at -0.161%* and SA 10-year generic at 9.31%*, SA’s R186 at 7.29%*

Covid Update:

  • Covid-19 global update: cases have surpassed 160.33 million, while the death toll has surpassed 3.33 million; recoveries are at 138.09 million
  • The US has 33.55 million cases, accounting for 21% of global cases; the US death toll is 596,946
  • India has 23.34 million cases and 254,225 deaths; Brazil has 15.28 million cases and 425,711 deaths. Research by the Cambridge Judge Business School suggests that the peak in new infections in India has been reached. Still, India has reported more than 300,000 new infections for more than 20 consecutive days, and health services remain overwhelmed
  • Africa’s Covid-19 cases are at 4.69 million; fatalities are at 125,399
  • Morocco has 514,164 reported cases, Nigeria 165,515, Ghana 93,011, Kenya 163,967
  • SA has the 20th highest caseload, at 1.599 million; 1,548 new cases were reported on Tuesday
  • Covid-19 deaths rose by 71 on Tuesday, to 54,896; 1.519 million people (or 95%) have recovered from the virus
  • 93 million tests have been conducted since 5 March 2020; 26,075 tests were conducted on Tuesday
  • 414,372 vaccines have been administered to date

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