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JGB TECHS

(M1) Bullish Focus

AUSSIE 10-YEAR TECHS

(M1) New Multi-Month Highs

USDCAD TECHS

Clearing Major Support

AUDUSD TECHS

Sizeable Resistance Building

EURJPY TECHS

Needle Still Points North

SOUTH AFRICA

LOCAL NEWS

  • Treasury says it is considering tax hike or widening the budget deficit to fund vaccine purchases.
    • Vaccines expected to cost ~R20bn, but the concern is with an already overburdened tax base (~8-10% of the population are taxpayers), there will be little scope to raise taxes too aggressively - Business Day.
    • Talk of a tax revolt emerged in late 2019-early 2021, which may resurface if taxation is pressed as the primary vehicle.
  • Class action suit has been launched against SA banks for auctioning repossessed houses at 50-60% of their market value according to a 12,000 property sample size.
    • Some even at 17% of their value. Suit is aiming to recoup billions of rands. Banks are yet to respond. - MoneyWeb
  • Eskom extends load-shedding to Monday, citing delays in restarting power units - Business Tech
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com