?Your 30 Second Market Brief (01 May 23)

Tired of long, boring market updates?

Here's a 30-second Market Update:

International Update

• US corporate earnings reports were better than expected, but manufacturing activity measures fell below expectations.
• The latest GDP report showed that the US economy is losing momentum, with Q1 GDP slowing to 1.1%.
• US Banking industry is also facing renewed turmoil with California’s First Republic Bank reporting over USD 100 billion in deposit outflows in Q1.
• Preliminary data showing Eurozone economic growth was only 0.1% for the quarter, below the expected 0.2%.
• China established a real estate registration system to implement a property tax.
• World Bank revised its projections, expecting a 21% reduction in commodity prices this year. Not good for South Africa.

Local Update

• Producer inflation fell to a 13-month low in March, suggesting easing pricing pressures.
• The US Treasury Department identified South Africa as part of a "vast international money-laundering and sanctions network".
• The proposal to postpone the closure of Eskom's coal-fired power plants received endorsements by top ANC officials.
• The JSE All-Share Index gained modestly this week, up +0.39%.
• The Rand depreciated to the US Dollar, ending the week at R18.28/$.

And that's it!

You're all caught up.

Hope this was helpful for you.

Chat soon.

Sean

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