?30 Second Market Brief (21 Aug 23)

No time to keep up to date with markets?

No problem.

Here's a?quick 30-Second Summary:

International Update

• U.S. Treasury yields surge on longer lasting high-interest rate prospects and Chinese economy concerns.
• Fed hints at tighter policy, raising doubts that the central bank is done raising rates.
• U.S. retail sales strong, up 0.7% in July.
• UK inflation drops to 6.8% YoY.
• China's economic activity weakened, property market downturn.
• Global indices down: Dow Jones (-2.2%), S&P 500 (-2.1%), Nasdaq Composite (-2.6%), Stoxx 50 (-2.51%), FTSE 100 (-3.48%), Shanghai (-1.80%), Hang Seng (-5.89%), Nikkei 225 (-3.2%).

SA Update

• Q2 unemployment rate at 32.6%.
• Opposition parties plan coalition against ANC.
• Chinese President Xi Jinping to attend BRICS summit in SA amid China-US tensions.
• JSE All Share Index down (-5%).
• Rand firms, ends week below R19 to US dollar.

And that's it. You're all caught up.

Hope that was helpful for you.

Sean??

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