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Adriaan Pask – Chief Investment Officer at PSG Wealth – says that with interest rate cuts on the horizon, improvements in load shedding, and a recent uptick in commodity prices, it seems like we're transitioning into an environment that could favour a more positive outcome for South African equities.
The diversion between local and global returns experienced in 2023 continued into the first quarter of 2024 and was further enhanced with rand depreciation against the US dollar.
In the first quarter of the year, overall, markets were negatively affected by sticky inflation and the expected delay in the first interest rate cut. However, large cap technology companies continued to drive global returns, as they did in 2023.
Economies at a Glance by Momentum Investments’ macro research team consists of an easy-to-read chartbook of what is happening in the economy and a snapshot of the index returns for the month.
If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?