Every week we give you our summary of happenings in the bond market.
Following an action-laden calendar last week, the next five days appear less exciting. First up is the release of a revised macroeconomic outlook for SA by Moody’s rating agency, who on Friday opted not to put through the much anticipated ratings announcement. They are likely to lower their relatively optimistic GDP forecast, which would strengthen our base case for a ratings downgrade sometime next year. On the global stage, the tug-of-war between two very egocentric and dangerous world leaders, may keep alive the risk-on/risk-off rollercoaster ride.