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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SOUTH AFRICA
- Risk Premia in SA snapped a 3-month downtrend in July as violence, looting and rioting took hold in the wake of Zuma's arrest last week.
- SA's 5Y CDS is up +11.92bp since Monday, and +20bp off the June lows at 180. Next major levels to the topside stand at 220 & 240.
- Implied volatility has also risen substantially with 1m vols up +2.075 points since Monday, trading at 15.60.
- 1m 25D risk reversals have also risen 25.75bp since Monday, and are fast approaching YTD highs around 3.00 with spot currently trading at 2.90.
- Rand hedge stocks have outperformed following the sharp depreciation if the rand, bolstering the Top40 index due to its narrow breadth.
- Index heavyweights Naspers, BHP, Richemont & Anglo-American have buoyed the index, which is now trading +2.55% off Monday's open.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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