Market Scorecard After their long weekend, US stocks had a very strong start on Tuesday. The S&P 500 broke through the 3 000 mark for the first time since early March. Helping sentiment is Jamie Dimon, the JP Morgan CEO, saying that there could be a fairly rapid recovery. In the last hour of … Continue reading Who Sold in May?
Market Scorecard Yesterday Nedbank released their Full Year numbers, which amongst other things showed a positive contribution from Ecobank, their West Africa subsidiary. Rewinding 12 months though, Ecobank cost the group R975 million, where, in the current financial year it gave them a profit of R375 million. As an investor it is tough to … Continue reading Iranian Headwind
Market Scorecard Wow, that 'Trade Truce' relief rally lasted all of one day. Yesterday Trump dubbed himself 'Tariff Man', as part of a string of tweets talking about trade with China. The good news is that Chinese officials have acknowledged the 90-day truce period. What spooked the markets though is the hardline tone coming … Continue reading The Grinch and The Tariff Man
To market to market to buy a fat pig. SA Inc was on fire yesterday! Our GDP read came in much stronger than expected. Stand by for a mouthful of economic jargon; our constant prices, seasonally adjusted and annualised 4Q GDP growth was 3.1%, compared to the expected growth of 1.8%. A much easier … Continue reading Farmers Provide the Green Shoots
To market to market to buy a fat pig. To go with the new warmer season, the season of new life, our GDP read yesterday showed the economy has green shoots again. Hello growth. Goodbye recession. The headline read which is a quarter on quarter, seasonally adjusted and then annualized number (phew take a … Continue reading Reading GDP
"So what next? More debt to GDP (as a result of lower GDP and more borrowing) and unfortunately less spend means lower tax collections. Which means lower revenues. Which leads to lower government spend. The other unfortunate part is, as Michael pointed out whilst he was listening to the wireless, is that radio stations are … Continue reading Howzit Recession
"As you can see, most economists are bleating, the primary sector of the economy experienced the worst of times recently. The more advanced your economy, the more reliant on technological innovations to drive your primary sector, more industrialised machinery doing the logging, the harvesting, the planting, the maintenance (fertilisers and pesticides) and so on. … Continue reading Primary sector irrelevance