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SOUTH AFRICA: National Tsy Holds Bond Auction, Absa M'fing PMI On Tap

SOUTH AFRICA
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  • The Daily Maverick circulated a report noting that lower demand for electricity and better performance of South Africa's coal fleet are behind the 190-day reprieve from loadshedding. Their analysis shows that the gap between demand and "thermal generation," which needs to be filled by nuclear, renewables, diesel or loadshedding, has "narrowed by, on average, almost two stages of load shedding" over the past year.
  • Energy and Electricity Minister Kgosientsho Ramokgopa joined the critics of the 36.1% tariff hike proposed by Eskom and said he would speak to the Finance Minister and the energy regulator about the issue.
  • The Democratic Alliance (DA) is pushing for the reinstatement of ousted Tshwane Mayor Cilliers Brink, with party leader John Steenhuisen reportedly reaching out to President Cyril Ramaphosa about the matter.
  • The National Treasury will sell ZAR1.25bn of 10% 2033 bonds, ZAR1.25bn of 10.875% 2038 bonds and ZAR1.25bn of 8.75% 2048 bonds.
  • South Africa's Absa Manufacturing PMI will cross the wires at 10:00BST/11:00SAST. Naamsa vehicles sales may also be published at some point today.
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  • The Daily Maverick circulated a report noting that lower demand for electricity and better performance of South Africa's coal fleet are behind the 190-day reprieve from loadshedding. Their analysis shows that the gap between demand and "thermal generation," which needs to be filled by nuclear, renewables, diesel or loadshedding, has "narrowed by, on average, almost two stages of load shedding" over the past year.
  • Energy and Electricity Minister Kgosientsho Ramokgopa joined the critics of the 36.1% tariff hike proposed by Eskom and said he would speak to the Finance Minister and the energy regulator about the issue.
  • The Democratic Alliance (DA) is pushing for the reinstatement of ousted Tshwane Mayor Cilliers Brink, with party leader John Steenhuisen reportedly reaching out to President Cyril Ramaphosa about the matter.
  • The National Treasury will sell ZAR1.25bn of 10% 2033 bonds, ZAR1.25bn of 10.875% 2038 bonds and ZAR1.25bn of 8.75% 2048 bonds.
  • South Africa's Absa Manufacturing PMI will cross the wires at 10:00BST/11:00SAST. Naamsa vehicles sales may also be published at some point today.