Tag: bond markets
About 57 per cent of fund managers believe South Africa’s equity market is undervalued, the highest since the 2008 financial crisis. That’s according to research from Bank of America. Most investors see more “buy” opportunities on the market than “sell” and to discuss where these are CNBC Africa spoke with John Morris, Senior Director and South Africa Investment Strategist for Bank of America.
A downgrade to junk is a looming possibility for South Africa, and non-residents have sold a net R14.4 billion of the debt this month. Today bonds firmed, with the yield on the benchmark of 10-year government paper due in 2026 down 4 basis points to 8.395 per cent. Rashaad Tayob, Fund Manager at Abax Investments joins CNBC Africa for more.
Eskom, South Africa’s struggling state owned power utility continues operations without its CEO Phakamani Hadebe. One of the utility’s biggest issues has been its unmanageable growing debt levels. Joining CNBC Africa to examine the SOE’s stakeholder and what the crisis means for bond prices is Rashaad Tayob, Fixed income, Multi-Asset, Hedge, Abax.
The rand is losing strength due to media reports of a possible resignation of South African Finance Minister Nhlanhla Nene. Bond markets aren't painting a pretty picture either; yields on treasuries have reached a seven year high. Jan Sluis-Cremer, Foreign Exchange and Money Market Sales Desk at RMB, joins CNBC Africa for more.