Week 10

Week 10


Property Industry:

  • The annual consumer inflation accelerated to 14 – month high
  • The average house price submitted for May 2021 thus far continues to improve by 8% annually
  • Bank willingness to lend continues to show positive results in May 2021
  • 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 was weaker yesterday at R14.01/$ (R13.99/$*)
  • EM currencies were mixed; the COP (+1.0%), PLN (+0.8%) and ZAR (+0.8%) were amongst the biggest gainers; the PEN (-0.6%), TRY (-0.4%) and MXN (-0.4%) were amongst the biggest losers
  • Asian equity markets are also mixed, the Nikkei and Hang Seng are down, while the Shanghai Composite is up
  • Brent crude oil is down this week, and up by 31.4% year-to-date
  • The gold price is unchanged this week, and down by 1.6% year-to-date
  • Brent crude oil is currently at $68.06/bbl; ($68.71/bbl*)
  • Gold is at $1867/oz ($1867/oz*)
  • SA CDS 196bps*, higher than Brazil 178bps* and lower than Turkey 396bps*
  • Yields: US 10yr at 1.64%*, German bund at -0.103%* and SA 10-year generic at 9.53%*, SA’s R186 at 7.36%*

Covid Update:

  • Covid-19 global update: cases have surpassed 164.9 million, while the death toll has surpassed 3.41 million; recoveries are at 143.86 million
  • The US has 33.77 million cases, accounting for 21% of global cases; the US death toll is 601,330. The US has administered more than 275m doses of vaccines since the start of the rollout, with almost half of its population now vaccinated
  • India has 25.49 million cases and 283,276 deaths. India’s Serum Institute has indicated that vaccine exports probably won’t resume until the end of the year as it struggles to meet domestic needs
  • A recent study in Spain noted that combining the AstraZeneca and Pfizer vaccines is safe and generates high levels of immunity
  • Research by DHL and McKinsey notes that 28.5 billion vaccines would likely be required to end the pandemic by 2023 and slow down virus mutations
  • The research suggests that 7-9 billion doses need to be administered in each of the next 2 years to keep infection rates low
  • This is in addition to 10-15 billion vaccines that it believes could be distributed by the end of this year
  • More than 1.51 billion doses have been administered across 176 countries at a rate of 25 million doses a day
  • Africa’s Covid-19 cases are at 4.74 million; fatalities are at 127,237. SA has the 20th highest caseload, at 1.617 million; 2,355 new cases were reported yesterday
  • Covid-19 deaths rose by 80 on Tuesday, to 55,340; 1.527 million people (or 94.4%) have recovered from the virus
  • SA has vaccinated 39,371 people over two days this week as it began its mass vaccination drive using the two-dose Pfizer vaccine
  • Government expects the program to pick up pace soon.
  • 519,139 vaccines have been administered to date

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