Week 13

Week 13


Property Industry:

  • Midway through June and we can see the 3rd wave has had a slight impact on submissions
  • Registered properties for 2021 is 12% above 2019 number
  • Bank conversions ratios continue to outperform pre covid-19 numbers
  • Average house price growth hold steady at the 8% improvement year on year

Local & International Markets:

  • The rand remains weaker this week at R13.78/$.
  • EM currencies were mixed this week; the BRL (+1.1%), CLP (+0.6%) and BGN (+0.1%) were amongst the biggest gainers; the KRW (-0.5%), HUF (-0.4%) and PHP (-0.4%) were amongst the biggest losers.
  • Asian equity markets are also mixed this week; the Nikkei is up, while the Hang Seng and Shanghai Composite are down.
  • BOE Governor Andrew Bailey commented that the UK economy is bouncing back strongly. Bailey noted that the economy is 5% smaller than it was before the pandemic hit.
  • Brent crude oil is up this week currently at $73.10/bbl; ($72.86/bbl*) , and up by 41.1% year-to-date.
  • The gold price is up marginally this week at $1865/oz ($1864/oz*) , and down by 1.8% year-to-date.
  • SA CDS 183bps*, higher than Brazil 162bps* and lower than Turkey 374bps*.
  • Yields: US 10yr at 1.49%*, German bund at -0.251%* and SA 10-year generic at 9.06%*, SA’s R186 at 7.11%*.

Covid Update:

  • Covid-19 global update: cases have surpassed 177.03 million, while the death toll has surpassed 3.82 million; recoveries are at 161.22 million.
  • The US has 34.33 million cases, accounting for 20% of global cases; the US death toll is 615,232. India has 29.57 million cases and 377,061 deaths; Brazil has 17.45 million cases and 488,404 deaths.
  • UK PM Boris Johnson has delayed plans to fully reopen the economy until 19 July due to a surge in the Delta variant cases.
  • British health authorities have indicated that those having had two doses of either the Pfizer or AstraZeneca vaccine appear well protected against the Delta variant.
  • Pfizer is examining cases where fully vaccinated people have contracted the virus to decide if and when booster shots are needed.
  • Singapore plans to reopen schools in stages from the end of the month as vaccinations among children increase.
  • Indonesia has tightened restrictions on movement and on the number of people allowed in offices.
  • Japan plans to donate about a million shots of the AstraZeneca vaccine to Vietnam.
  • Globally, over 2.39 billion doses have been administered across 178 countries at a rate of 36.3 million doses a day.
  • Africa’s Covid-19 cases are at 5.10 million; fatalities are at 135,389.
  • Morocco has 523,999 reported cases, Nigeria 167,078, Ghana 94,493, Kenya 175,681.
  • The WHO noted that the steep increase in cases in Africa is “especially concerning” because it has the least access to vaccines, diagnostics and oxygen.
  • The more transmissible variants also mean that curbs may need to be more stringent and applied for longer in areas where vaccination rates remain low.
  • SA has the 19th highest caseload, at 1.752 million; 5,552 new cases were reported on Tuesday.
  • Covid-19 deaths rose by 114 on Tuesday, to 57,879; 1.611 million people (or 91.9%) have recovered from the virus.
  • 223 million tests have been conducted since 5 March 2020; 30,034 tests were conducted on Tuesday.
  • 777 million vaccines have been administered to date.

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