Opening Windows

  Market Scorecard It is the last day of our full lockdown, and the end of a three day week. Are you ready for your run tomorrow morning? This lockdown has hit global economies hard. Yesterday the US released its GDP figures for the first quarter of 2020. It was a drop of 4.8%, the … Continue reading Opening Windows

This Apple has Thick Skin

  Market Scorecard Welcome to the second quarter of 2020. Looking back at the first quarter, the MSCI All World index dropped 21% which is its second worst quarter on record - it fell 23% at the end of 2008. The globe is currently in a few different phases. In China things are mostly returning … Continue reading This Apple has Thick Skin

A Moody Monday

  Market Scorecard It is now official, all three major rating agencies have South African debt as junk. The implication is that low-risk investment institutions will not be able to own our debt, and we will be removed from the World Government Bond Index (WGBI). There was a rather muted reaction from the Rand over … Continue reading A Moody Monday