Market Forces
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13 May 2025
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Market volatility was exacerbated by on-again/off-again tariff announcements. The trade war sparked fears of a US recession amid slowing growth, weak consumer sentiment, and sticky inflation. Rapid changes in global trade dynamics caused tremendous confusion and unease among investors, weighing on global equity markets. -
12 May 2025
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Inflation continues to moderate across key global markets, including the US, UK, Eurozone, South Africa, and China. In South Africa, inflation eased for the first time in five months, reaching its lowest level since June 2020. In contrast, Japan saw inflation rise in March, marking three consecutive years when headline inflation has been above the Bank of Japan’s 2% target. -
14 April 2025
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Consumer inflation in the US increased slightly in February compared to January. In March, US President Donald Trump imposed tariffs on steel and aluminum imports. Chinese officials introduced a special plan to boost the economy and are considering various measures to stabilise the Chinese stock market. On the domestic front, the US issued an executive order to immediately suspend funding for the President’s Emergency Plan for AIDS Relief (PEPFAR) to South Africa. -
8 April 2025
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Global interest rates remained steady across major economies, including the US, UK, and South Africa, as central banks maintained their current policy stance. A key underlying factor for these central bank decisions is the tariffs introduced by US President Donald Trump. -
13 March 2025
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For this year’s budget speech analysis, we turned to Melanie Stockigt, Portfolio Manager and Analyst at Laurium Capital, for her insights. The key takeaway? The budget reinforces fiscal discipline while aiming for pro-growth spending. Market reactions were mixed, with bonds and the rand seeing some volatility. -
12 March 2025
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Global economic trends presented a mixed picture in the latest quarter. US economic growth slowed in the fourth quarter, but consumer spending grew over the same period. On the domestic front, South Africa saw positive developments, with retail sales expanding both in the final quarter and over the year. Encouragingly, the unemployment rate declined across all demographics, including youth, as job creation gained momentum across multiple sectors.
