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South Africa: Downgrade ZAR to Hold with rate hike balanced by rising risks

SARB hiked rates by 75bps yesterday in line with expectations, preserving a positive real rate differential with the US. Growth and inflation forecasts broadly unchanged but current account forecast is notably worse; further hikes likely. Worsening e...
Tellimer Research Patrick
Patrick Curran @ Tellimer Research 23 September 2022
South Africa: Downgrade ZAR to Hold with rate hike balanced by rising risks
South Africa: Downgrade ZAR to Hold with rate hike balanced by rising risks

Fitch Ratings warns of a possible default by Ghana

Forex: Egypt goes against the tide and leaves rates on hold. Fixed Income: The belly of Kenya’s local currency bond curve is underperforming amid rising fiscal concerns. Macroeconomic: Gold miners are facing mounting costs.
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 23 September 2022

Egypt, SA and the UK are set to follow in the Fed's footsteps

Forex: Nigerian naira among the worst-performing African currencies in September. Fixed Income: Ghanaian Eurobonds tank as fears grow that the debt restructuring could include external debt. Macroeconomic: Hawkish hike sends tremors across markets.
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 22 September 2022

Micron Technology Inc: Vermilion Short Shots: Technically Vulnerable Stocks

CEVA, MU, NVDA, POWI, SITM, COHR, RTX, DELL, HPQ, SONYT, TM, SMP, PATK, SWK, PATK, SWK, MOV, HUN, SSL, ELAN, GSK, LIVN, OMI, SHC, BGS, MKC, TSN, UVV, CHD   Short Shots is a collection of technically vulnerable charts culled from the Negative Infl...
Vermilion Research David
David Nicoski @ Vermilion Research 9 September 2022

Ethiopia tightens capital controls, Zambia lays out debt restructuring plan

Forex: Egypt signals openness to looser management of the pound. Fixed Income: Zambia lays out a plan for its complex debt restructuring. Macroeconomic: IMF programmes are becoming all the more important for heavily indebted African countries.
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 7 September 2022

Are IMF deals pivotal for fiscally fragile African countries?

Forex: Nigeria's foreign currency reserves fell by $194.34mn in August. Fixed Income: Egypt, Ghana and Zambia are attracting the most attention in Africa's fixed income space. Macroeconomic: Global food prices fall for a fifth straight month.
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 5 September 2022
Are IMF deals pivotal for fiscally fragile African countries?
Are IMF deals pivotal for fiscally fragile African countries?