Week 17

Week 17

IN THE LOOP – WEEK 17

Property Industry:

  • July submissions continues to be 10% lower than the 2021 average as the unrest and pandemic stifles the consumers buying patterns
  • Registered properties for 2021 is 12% above 2019 number
  • Bank conversions ratios continue to hold above covid-19 averages
  • Average bond price registers for June 2021 were 14% higher year on year

Local & International Markets:

  • The rand remains weaker at R14.75/$ after closing weaker on Tuesday (R14.64/$*).
  • EM currencies were mixed this week; the TRY (+0.5%), PHP (+0.2%) and BRL (+0.2%) were amongst the biggest gainers; the ZAR (-1.6%), MXN (-1.0%) and PLN (-1.0%) were amongst the biggest losers.
  • Asian equity markets the Nikkei, Hang Seng and Shanghai Composite are down.
  • Fed Chair Jerome Powell will likely be questioned on his views on the biggest increase in inflation since 2008 during his Congressional testimony today.
  • San Francisco Fed President Mary Daly has brushed aside the June CPI, noting that the Fed may still start to taper by year-end or early next year.
  • Much of the CPI jump came from sectors recently re-opened, which implies that the CPI surge may prove temporary.
  • Brent crude oil is down by 0.3% this morning, and up by 47.3% year-to-date.
  • The gold price is up by 0.1% this morning, and down by 4.6% year-to-date.
  • Brent crude oil is currently at $76.29/bbl; ($76.49/bbl*).
  • Gold is at $1812/oz ($1811/oz*).
  • SA CDS 200bps*, higher than Brazil 176bps* and lower than Turkey 391bps*.
  • Yields: US 10yr at 1.39%*, German bund at -0.294%* and SA 10-year generic at 9.43%*, SA’s R186 at 7.55%*.

Covid Update:

  • Covid-19 global update: cases have surpassed 188.61 million, while the death toll has surpassed 4.06 million; recoveries are at 172.43 million.
  • The US has 34.80 million cases, accounting for 18% of global cases; the US death toll is 623,435.
  • India has 30.94 million cases and 411,439 deaths; Brazil has 19.15 million cases and 535,924 deaths.
  • Mexico has had a record increase in new infections, while Greece has had the most cases in two months.
  • Malaysia’s cases surpassed a record 11,000 on Tuesday, and may climb further in the next few days before stabilizing.
  • Sydney has extended its lockdown by a further two weeks.
  • China is on track to have vaccinated 75% of its population in two months.
  • India is facing a worsening hunger crisis following Covid-related job losses.
  • Commuters in London will still be required to wear face masks on public transport after England relaxes wider rules.
  • Globally, over 3.46 billion vaccines have been administered across 180 countries at a rate of 29.5 million doses a day.
  • Africa’s Covid-19 cases are at 6.07 million; fatalities are at 153,922.
  • Morocco has 545,016 reported cases, Nigeria 168,867, Ghana 97,728, Kenya 189,703.
  • Tanzania has begun its vaccination program with the Sinovac vaccine.
  • SA has the 18th highest caseload, at 2.219 million; 12,537 new cases were reported on Tuesday.
  • Active cases are at 192,726; Gauteng continues to lead the way with 75,188 active cases, followed by the Western Cape with 28,856.
  • Covid-19 deaths rose by 633 on Tuesday.
  • 13.98 million tests have been conducted since 5 March 2020; 51,798 tests were conducted on Tuesday.
  • The positivity rate is 24.2%.
  • 4.53 million vaccines have been administered to date.
  • Vaccinations have come to a partial halt due to the ongoing violence in Gauteng and KwaZulu-Natal.

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