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GBPUSD TECHS

Remains Under Pressure

EURUSD TECHS

Bear Cycle Extension

US TSY OPTIONS

30Y Put

COMMODITIES

Oil Bounces, Eyes Iran Poll and Gulf Weather

US EURODLR FUTURES

Large Red Sep'22 Sale

EQUITIES

Equities Sag as Rate Rise Fears Prompt Jitters

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LOCAL NEWS

  • Covid cases rise to 9,149 overnight from 8,881 the prior day, coming closer to the 10k mark. NICD says SA is now officially in its 3rd wave with Gauteng the hardest hit.
    • 1.52m people have received their first vaccination, with 40m needed to reach herd immunity.
    • Nurses and doctors in Gauteng warning hospitals are struggling with capacity
  • Analysts/Economists surprised by positive energy developments following Ramaphosa's boost to the self-generation threshold yesterday from 1MW to 100MW.
    • However, SA does still face a 2-yr gap in supply and demand and is expected to face significant load-shedding in the near-term.
    • Interestingly, this directly overruled Gwede Mantashe, resulting in calls for his replacement from analysts overnight
  • Eskom moves down from stage 3 to stage 2 load-shedding which is expected to continue through to Sunday – Eskom Twitter