Last month, we recently counted 27 countries with US$ bonds yielding more than 10% or that are in default (28 today with the addition of Turkey), a decade high and more than double the number in December 2021 (13) and three times the number in Decemb...

Global bond yields have stabilised this morning it seems, if what is happening in the UST market is anything to go by. In the near term risks have shifted to the downside as investors price for lower economic dynamism across the globe. While inflatio...

The USD has continued to edge lower this morning as markets digest the Fed’s 75bps rate hike and the forward guidance provided by Powell in the press conference accompanying the rate decision. The May reading surpassed consensus expectations of a ris...

The direction of the USD and currency markets will depend on tonight’s FOMC rate decision and the forward guidance provided in the policy statement. Given how much is riding on the outcome of the FOMC meeting, we expect trade conditions to be thin to...

Gold slipped overnight following an announcement by the ECB that they plan to raise rates in July by 25 bpts and cease its asset purchase programme. The positive balance was mainly driven by an annualized trade surplus that widened to R360bn due to g...

A Russian airstrike hit a freight railcar repair factory in the Ukrainian capital of Kyiv, this is after Putin promised to facilitate the export of grain from Ukraine amid a worsening global food shortage and inflation crisis. To combat the issue of ...