Week 11

Week 11


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 12% annually
  • Bank willingness to lend continues to show positive results in May 2021
  • Market submissions are 8% higher than the 2020 average with May 2021 looking to be another record month for the industry

Local & International Markets:

  • The rand remained stronger this week at R13.81/$.
  • EM currencies were mixed; the ZAR (+0.6%), BGN (+0.5%) and KRW (+0.4%) were amongst the biggest gainers; TRY (-1.0%), CLP (-0.7%) and HUF (-0.5%) were amongst the biggest losers.
  • Asian equity markets the Nikkei, Hang Seng and Shanghai Composite are up.
  • Brent crude oil is up this week, and up by 32.7% year-to-date.
  • The gold price is up this week, and up by 0.3% year-to-date.
  • Brent crude oil is currently at $68.73/bbl; ($68.65/bbl*).
  • Gold is at $1904/oz ($1895/oz*).
  • SA CDS 192bps*, higher than Brazil 177bps* and lower than Turkey 399bps*.
  • Yields: US 10yr at 1.55%*, German bund at -0.167%* and SA 10-year generic at 9.28%*, SA’s R186 at 7.25%*.

Covid Update:

  • Covid-19 global update: cases have surpassed 168.52 million, while the death toll has surpassed 3.49 million; recoveries are at 150.05 million.
  • The US has 33.94 million cases, accounting for 20% of global cases; the US death toll is 605,208. Air travel in the US is rebounding faster than expected after the relaxation of lockdown measures.
  • India has 27.15 million cases and 311,421 deaths; Brazil has 16.19 million cases and 452,224 deaths.
  • Japan’s Asahi newspaper has called for the cancellation of Tokyo Olympics due to the unstable Covid situation in Japan.
  • Hong Kong may donate unused vaccines to countries in need via the COVAX facility as administration in the city has been low and vaccine expiry dates are near. Australia is expected to donate $31 million to Vietnam to buy vaccines.
  • Africa’s Covid-19 cases are at 4.819 million; fatalities are at 129,317.
  • SA has the 20th highest caseload, at 1.640 million; 3,084 new cases were reported on Tuesday.
  • Covid-19 deaths rose by 102 on Tuesday to 55,976; 1.543 million people (or 94.1%) have recovered from the virus.
  • 11.40 million tests have been conducted since 5 March 2020; 28,026 tests were conducted on Tuesday.
  • 700,904 vaccines have been administered to date.

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